Particle.news

Download on the App Store

Alberta Posts $5.8B Surplus in Year-End Fiscal Update

The province still faces a projected $5.2 billion deficit by March 2026 driven by lower oil revenues and tax cuts

Alberta Finance Minister Nate Horner delivers the budget in Edmonton, Thursday, Feb. 29, 2024. THE CANADIAN PRESS/Jason Franson
Alberta finance minister Nate Horner arrives to speak to the media at a news conference in Calgary, Thursday, June 29, 2023.THE CANADIAN PRESS/Jeff McIntosh
Image
Alberta Finance Minister Nate Horner presents the Alberta 2025 budget in Edmonton, Thursday, Feb. 27, 2025.

Overview

  • Alberta closed its 2024-25 books with a $5.8 billion surplus, slightly below earlier estimates of nearly $6 billion
  • The budget introduced in February forecast a $5.2 billion shortfall for the year ending March 2026
  • Future deficits are attributed to declining oil prices, recently enacted tax cuts and U.S. trade tariffs
  • A contingency fund established to cushion tariff impacts aims to protect provincial revenues from global uncertainties
  • Critics warn that funding for health and education could lag behind population growth and inflation