Overview

Budget 2024 is a responsible plan to strengthen health care and education, build safe and supportive communities, manage the province’s resources wisely and promote job creation to continue to build Alberta’s competitive advantage. The budget maintains the government’s commitment to fiscal responsibility and efficient delivery of public services while recognizing and addressing the needs of Alberta’s growing population.

As of the 2024-25 second quarter fiscal update, Alberta’s government is forecasting a surplus of $4.6 billion in 2024-25, $4.2 billion more than estimated in Budget 2024.

Read the 2024-25 Second Quarter Fiscal Update and Economic Statement.

Budget 2025 consultation

We want to hear your priorities for Budget 2025 to support Alberta’s growing population and ensure people have access to the quality public services and programs they need. 

Budget 2025 is an opportunity to maintain Alberta’s advantage, control spending and save for the future.

You can share your views and ideas through an online survey by January 12, 2025.

Learn more and take the survey

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What the budget means for you

Budget 2024 continues to build a refocused health-care system, so every Albertan has access to the care they need, when and where they need it. Supports for education and social services are helping children, families and the vulnerable. Investments in safe, secure communities will increase public safety and protect Albertans and the environment from potential drought, flood and wildfire conditions.

See the budget highlights

Economic outlook

Alberta’s economic outlook remains solid, but faces rising risks, including continued volatility in oil prices, geopolitical tensions and protectionist trade policies. Real gross domestic product (GDP) growth is forecast to rise 3% in 2024, then moderate to 2.7% in 2025. Population growth is expected to slow to 2.5% next year, but will continue to outpace employment gains of 2.1%.

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Revenue

Total revenue in 2024-25 is forecast at $77.9 billion, $4.4 billion more than budget, mainly due to higher-than-expected non-renewable resource and personal income tax revenues.

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Expense

Total expense is forecast at $73.3 billion, up $0.1 billion from budget. Operating expense is up by $1.2 billion, mainly for physician compensation incentives, AHS service activities, income support program delivery costs, and to address enrolment growth in K to 12 education. Disaster and emergency assistance, primarily for wildfire fighting, is estimated at $0.8 billion.

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Capital Plan

The 2024-25 Capital Plan is now forecast at $8.3 billion, which is close to budget. The forecast aligns with the progress of completion and project scheduling, ensuring projects continue to be delivered as committed in Budget 2024.

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Budget documents

Download detailed documents outlining the government's financial plans.

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Watch the news conference

Finance Minister Nate Horner provides details on Budget 2024.

Read the full budget address

News

See all news