The Alberta economy continues to be resilient, but interest rate increases, high prices and slower global economic growth are creating headwinds. Alberta’s real gross domestic product (GDP) is forecast to grow 2.8% this year, a moderation from last year’s exceptionally strong pace of 5.0%. This is in line with budget expectations but slightly lower than the first quarter.
- Read the 2023-24 Mid-year Fiscal Update and Economic Statement (PDF, 1.5 MB).
Table 1. Energy price and currency assumptions
|2024-25 Forecast||2025-26 Forecast|
|WTI oil price|
Table 2. Economic assumptions
(% change in real GDP)
|Unemployment rate (%)||5.8||5.9||6.2||6.1||5.9|
More budget information
Find out what Budget 2023 means for you.
Revenue projections from taxes, transfers, investment income and resources.
Budget 2023 invests in the infrastructure families and communities need.
Summary of government spending according to Budget 2023.