President of Treasury Board and Minister of Finance is forecasting the province’s surplus to be $2.9 billion at the end of 2024-2025.
However, Nate Horner referred to it an accounting surplus as he provided Alberta’s first quarter fiscal update and economic statement on Thursday.
Horner adds, this update shows we are still in a borrowing position but this improved position has boosted our debt servicing by about $180 million from budget.
According to Horner, this year’s budget contains the largest ever health and education spending in Alberta’s history.
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He says they anticipate the province’s population to grow at a record pace of 4.6 per cent in 2024 – up significantly from budget and also higher than last year.
