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After more than a year of historic economic challenges, Alberta is once again poised to lead the nation in economic growth. Budget 2022 is an opportunity to continue improving the province’s finances.
In addition to attracting investment, controlling spending and putting a check on the amount of debt being left to future generations, the government is looking to hear from all Albertans on their priorities for their families, businesses and communities.
Albertans can share their views and ideas for the next budget by filling out an online survey and joining telephone town halls with Finance Minister Travis Toews.
Businesses, municipalities, industry associations and other groups can also send budget submissions on behalf of their organizations.
“The budget decisions the government makes now will help cement our province’s economic and fiscal recovery and lead to a more stable and prosperous future for all Albertans. I’m looking forward to working with individuals across the province as we renew our focus on supporting jobs and growth while also searching for new ways to ensure our core programs and services are efficient and sustainable over the long term.”
The government is now accepting budget submissions, and the online survey is live until Jan. 15. Telephone town halls will also take place in January. More information is available at alberta.ca/BudgetConsultation. Alberta’s government is interested in Albertans’ spending priorities as well as their ideas about where to look for savings and how to strengthen the economy.
- As of the 2021-22 mid-year fiscal update and economic statement:
- Alberta’s economy (as measured by real gross domestic product or GDP) is expected to grow by 6.1 per cent this year. Real GDP is anticipated to return to 2014 levels next year.
- The deficit for 2021-22 is forecast at $5.8 billion.
- The revenue forecast for 2021-22 is $57.9 billion while the expense forecast is $63.7 billion.
- Taxpayer-supported debt is forecast at $101.6 billion on March 31, 2022.
- The net debt-to-GDP ratio was estimated at 19.2 per cent at the end of the fiscal year, which is in line with the province’s goal of keeping it well below 30 per cent.