Alberta announces final numbers for fiscal year, including $4.3B surplus

Alberta has announced its final numbers for the fiscal year that ended in March and the bottom line is a $4.3-billion surplus.

Finance Minister Nate Horner says Alberta took in almost $75 billion in the 2023-24 fiscal year, powered by more than $19 billion from non-renewable resources and a higher tax take due to more people moving to the province.

Alberta spent more than $70 billion, more than expected, as the province worked to cover off natural disasters and revamp the core structure of its health system.

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The province also grew the size of its long-term savings piggybank, the Heritage Savings Trust Fund, to almost $23 billion.

Debt servicing costs were $3 billion.

Horner says the province is setting a prudent course that has led to credit-rating upgrades from multiple firms.

“Our government has kept its promise to balance our budget and provide Albertans the services and supports they need,” said Horner in a statement Thursday.

“We will keep building opportunity so that our children and grandchildren can continue to benefit, grow and share in the province’s prosperity.”

This report by The Canadian Press was first published June 27, 2024.