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Overview
Budget 2022 moves Alberta forward by building health system capacity, getting more Albertans to work and putting forward a balanced budget for only the second time in 15 years.
The budget includes a new initiative called Alberta at Work, which will create pathways to success for all Albertans, no matter where they are on their career path.
Resources
2022-23 Mid-year update
Total expense of $64.6 billion is forecast, an increase of $2.5 billion from budget. Of that increase, $1.2 billion is for regular operating expenses, including $300 million for electricity rebates funded from the contingency, $1.3 billion for new affordability initiatives and $300 million in COVID-19 / recovery plan expense.
Table 1. Expense (millions of dollars)
| Expense items | 2021-22 Actual |
2022-23 Budget |
2022-23 Forecast |
Change from Budget |
2023-24 Target |
2024-25 Target |
|---|---|---|---|---|---|---|
| Operating expense by ministry: | ||||||
| - Health | 21,302 | 22,018 | 22,358 | 340 | 23,172 | 23,959 |
| - Kindergarten to Grade 12 | 7,846 | 8,390 | 8,454 | 64 | 8,581 | 8,616 |
| - Post-secondary | 5,280 | 5,444 | 5,441 | (3) | 5,519 | 5,637 |
| - Social service ministries | 6,036 | 7,012 | 6,994 | (18) | 7,211 | 7,491 |
| - Other ministries | 9,066 | 7,940 | 8,732 | 792 | 8,301 | 8,323 |
| Operating expense (excl. COVID, Recovery Plan) | 49,531 | 50,800 | 51,976 | 1,176 | 52,784 | 54,026 |
| Capital grants (excl. COVID, Recovery Plan) | 1,554 | 2,148 | 2,236 | 88 | 2,316 | 2,735 |
| Amortization / inventory consumption (excl. COVID, loss on disposals) | 4,186 | 4,057 | 4,007 | (50) | 4,136 | 4,210 |
| - Debt servicing | 2,641 | 2,662 | 2,702 | 40 | 2,750 | 2,551 |
| - Pension provisions | (365) | (289) | (312) | (23) | (317) | (325) |
| Total expense (excl. COVID, Recovery Plan and contingency) | 57,547 | 59,378 | 60,609 | 1,229 | 61,669 | 63,197 |
| COVID / Recovery Plan: Operating expense | 2,812 | 687 | 1,360 | 673 | 149 | 153 |
| COVID / Recovery Plan: Capital grants, inventory consumption | 949 | 281 | 452 | 171 | 168 | 148 |
| Contingency: COVID/Recovery Plan - unallocated | - | 750 | 186 | (564) | - | - |
| Contingency: Disaster and emergency assistance | 3,076 | 1,000 | 700 | (300) | 750 | 750 |
| Provision for affordability initiatives | - | - | 1,300 | 1,300 | 1,200 | 300 |
| Total expense | 64,378 | 62,096 | 64,607 | 2,511 | 63,936 | 64,548 |
More budget information
Find out what Budget 2022 means for you.
A summary of Alberta's Budget 2022 economic forecast.
Revenue projections from taxes, transfers, investment income and resources.
Budget 2022 invests in the infrastructure families and communities need.