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).
Resources
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)
| 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.