Alberta’s government-sector workers enjoy a 9.3 per cent wage premium over their private-sector counterparts.
alberta debt
The province's revenue will likely be even higher than forecast in Budget 2022.
Higher resource revenue accounts for nearly 80 percent of the $11.5 billion improvement in the province's budgetary balance in 2022/23.
By 2043, Albertans aged 65 or older will account for a projected 19 per cent of the province's population.
Alberta's government finances deteriorated by roughly $97 billion over 15 years.
According to forecasts, the province's net financial debt will eclipse $69 billion this fiscal year.
A boost in projected revenues this year have reduced the expected deficit for 2021/22, but this will only provide a small amount of relief.
The province's per-person spending is significantly higher than in Ontario, B.C. and Quebec.
According to the PBO, Alberta must reduce spending by 3.1 per cent of GDP to restore fiscal sustainability.