Every US$1 decline in oil prices reduces government revenues by an estimated $630 million.
The government will spend $2,401 more per person than planned in Budget 2022.
From 2008/09 to 2020/21, the province racked up $60 billion in provincial net debt.
Since its 2022 mid-year fiscal update, the government has increased program spending by $10.1 billion.
It’s Time to Get Off the Resource Revenue Rollercoaster: Re-establishing the Alberta Sustainability Fund
The idea is simple—save during good times to help avoid deficits during bad times.
Capital investment in Alberta’s oil and gas industry fell from $58.1 billion to $21.5 billion.
According to projections, debt interest costs will reach $3.1 billion in 2025/26.