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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.

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)

Source: Treasury Board and Finance
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

Budget documents

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.