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