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.
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.