Overview

Budget 2023 secures Alberta's future by continuing to prioritize fiscal responsibility and living within our means. A new fiscal framework, including balanced budget legislation, helps government make spending decisions that support long-term sustainability of the government programs and services that are important to Albertans.

The government’s latest budget update is now available online. Read the 2023-24 First Quarter Fiscal Update and Economic Statement (PDF, 1 MB).

2023-24 first quarter update

Total expense of $68.7 billion is now forecast, an increase of $0.4 billion from budget, while expense before preliminary contingency allocations is $1.6 billion higher. Operating expense is up by $0.2 billion mainly from new federal funding proposed under the new Health bi-lateral agreement, capital grant increases of $0.2 billion mainly for re-profiling projects from 2022-23, debt servicing cost increases of $0.2 billion largely from elevated borrowing rates, and an increase of $1 billion for disaster and emergency assistance for wildfires. This $1.6 billion increase is offset by $0.4 billion in dedicated revenue and a $1.2 billion preliminary allocation from the contingency, leaving $0.3 billion unallocated.

Table 1. Expense summary (millions of dollars)

Source: Treasury Board and Finance
Expense items 22-23
Actual
23-24
Estimate
23-24
Forecast
Change
from Budget
Operating expense:
- Health 23,438 24,533 24,747 214
- Kindergarten to Grade 12 8,329 8,836 8,836 -
- Post-secondary 5,716 5,779 5,826 47
- Seniors, Community and Social Services 4,816 5,252 5,183 (69)
- Other ministries / Legislative Assembly 12,438 12,638 12,625 (13)
Operating expense 54,737 57,038 57,217 179
Capital grants 1,525 2,821 2,991 170
Amortization / inventory consumption / loss on disposals 4,090 4,418 4,418 -
- Debt servicing 2,829 2,848 3,093 245
- Pension provisions (21) (322) (322) -
Disaster and emergency assistance 1,319 - 980 980
Contingency - 1,500 323 (1,177)
Total expense 64,479 68,303 68,700 397

More budget information

Find out what Budget 2023 means for you.

A summary of Alberta's Budget 2023 economic forecast.

Revenue projections from taxes, transfers, investment income and resources.

Budget 2023 invests in the infrastructure families and communities need.