The province's per-person spending is significantly higher than in Ontario, B.C. and Quebec.
alberta debt
According to the PBO, Alberta must reduce spending by 3.1 per cent of GDP to restore fiscal sustainability.
This year's combined projected federal and provincial government deficits total $234 billion.
In 2020/21, Alberta’s non-renewable resource revenue will comprise only 4.7 per cent of provincial revenue.
The province's net debt will reach a projected $102.1 billion by 2023/24.
A reliance on non-renewable resource revenue has caused trouble for the provincial finances for decades.
The program offset just 3.5 per cent of Alberta’s year-over-year revenue loss.
By 2023/24, debt interest will consume 6.6 per cent of all provincial revenues.
According to budget forecasts, debt interest payments will reach $3.3 billion by 2023/24.
The provincial government ran deficits in 12 of the past 13 years.