Alberta Fiscal Snapshot: Summer 2017
This “fiscal snapshot” looks at the state of Alberta’s economy and its government’s fiscal challenges, and provides a short- and medium-term outlook for the province.
- Alberta’s economy will be a growth leader this year—but a return to the rapid growth of before the oil collapse is not expected.
- Royalties and corporate tax revenues will begin their slow rebound after the shellacking of the last two fiscal years.
- Provincial revenues remain too dependent on a recovery in volatile resource revenues.
- Budget 2017 introduced a plan to keep spending increases well below the rate of population growth and inflation.
- Large deficits and rising debt levels will be the norm over the forecast. The growing debt burden will increasingly become a concern to Albertans and credit agencies.