COVID-19 Updates: Taking steps to return to normal.
- Public health restrictions: Alberta entered Step 2 on March 1.
- Book your vaccine: Albertans 5+ can get it now. Get third dose when eligible.
COVID-19 Updates: Taking steps to return to normal.
Budget 2018 focuses squarely on extending the benefits of the province’s recovery to all Albertans by continuing to diversify our economy, create jobs and protect the vital public services families depend on.
This release was issued under a previous government.
As Alberta emerges from the worst recession in a generation, things are looking up. Budget 2018 works to move Alberta off the resource revenue rollercoaster by building a more resilient and diversified economy based on stable, predictable funding, and getting the most value out of our resources.
Budget 2018 also sets the path to balancing the budget by 2023-24 by ensuring public dollars are invested where they are needed most, while at the same time eliminating waste, controlling spending and finding efficiencies.
“The recession is behind us and Alberta’s economy is looking up. Alberta’s economy is creating good, mortgage-paying jobs and Alberta led the country in economic growth last year and is poised to do so again in 2018. We will hold the line on spending increases and invest in new opportunities that create good jobs and diversify the economy. We will make sure the benefits of Alberta’s strengthening economic recovery will reach all Albertans and is built to last.”
Both the government and the Conference Board of Canada forecast Alberta’s economy to grow by 2.7 per cent this year, placing the province among the growth leaders in Canada and well above the national rate.
Employment growth is expected to accelerate in 2018, growing by 2.0 per cent over the year. As employment increases again this year, the unemployment rate is forecast to fall further to 6.8 per cent for 2018.
“The budget is working to diversify the economy. It increases access to capital for entrepreneurs, strengthens our technology sector, attracts investment to the petrochemical industry and adds more low-cost renewable energy in our communities. It will accomplish all of this and more while protecting vulnerable Albertans, supporting the services folks rely on and putting us on a path to balanced budgets without extreme service cuts. We are truly making life better and more affordable in Alberta while building an economy for the long haul.”