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Budget 2023 secures Alberta’s bright future by transforming the health-care system to meet people’s needs, supporting Albertans with the high cost of living, keeping our communities safe, and driving the economy with more jobs, quality education and continued diversification.

The budget forecasts a surplus of $2.4 billion in 2023-24. Fiscal responsibility is key to achieving our strong fiscal standing and sustainable program delivery in the future. We are committed to paying down debt while positioning our economy for growth and investing in Albertans' top priorities.

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What the budget means for you

Budget 2023 continues to provide inflation relief to help with the rising cost of everyday necessities, makes historic investments in health care and education, attracts more investment to help businesses and entrepreneurs thrive, and enhances community policing and access to addiction and mental health supports to keep Albertans and communities safe.

See the budget highlights

Economic outlook

Alberta is well positioned to face potential economic challenges. Our economy has fully recovered from the pandemic downturn and is expected to lead the country in gross domestic product (GDP) growth at 2.8%. Solid energy prices and population growth are expected to support investment and provide relief to Alberta's tight labour market, but rising borrowing costs and prices will continue to dampen consumer spending.

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Alberta's revenue is projected to be $70.7 billion in 2023-24 and remain above $70 billion for the next few years. Fears of a looming global recession are expected to soften commodity prices, while investment income is expected to recover well after dropping last year.

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Budget 2023 secures Alberta's future by prioritizing fiscal responsibility and living within our means, while making spending decisions that support the long-term sustainability of the programs and services that are important to Albertans. The total expense for 2023-24 is $68.3 billion, which is $2.6 billion more than the forecast for last year.

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Capital plan

Alberta's 3-year capital plan secures jobs and prosperity for Albertans by investing in infrastructure projects that help strengthen our health-care system, enhance safety and security and provide essential services and supports. Nearly $23 billion in priority capital project funding will support 20,000 direct and 12,000 indirect jobs each year through to 2025-26.

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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 Travis Toews provides details on Budget 2023.

Read the full budget address