News Release
Listening to Albertans: Budget 2023
Alberta’s government wants to hear from Albertans as Budget 2023 is prepared.
Alberta continues to lead the country in economic growth and Budget 2023 will continue to position the province for investment attraction, economic diversification and job creation. Budget 2023 will further our commitment to make life more affordable, improve our health-care system, create jobs and stand up for Albertans.
“Alberta is the best place to live, work and raise our families. Budget 2023 will put Albertans first by supporting our communities, businesses and families with strategic investments to position us for a prosperous future. I look forward to hearing your priorities and perspectives for Budget 2023. Please take the time to complete the survey or participate however you can.”
Travis Toews, President of Treasury Board and Minister of Finance
Listening to Albertans through public consultations is a valuable part of the process to develop Alberta’s budget. In addition, the government will also receive input from groups including community and business leaders.
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, community organizations and other groups can send budget submissions through an online portal on behalf of their organizations.
The survey and online submission portal are open now. For more information on these and other engagement methods, please visit alberta.ca/BudgetConsultation.
Quick facts
As of the 2022-23 first quarter fiscal update on Aug. 31:
The revenue forecast for 2022-23 is $75.9 billion, while the expense forecast is $62.7 billion.
That leaves a forecast surplus of $13.2 billion for 2022-23, in large part due to record-breaking non-renewable resource revenue and higher than anticipated corporate income taxes.
Following a debt repayment of $13.4 billion, taxpayer-supported debt is forecast at $79.8 billion on March 31, 2023.
The net debt-to-GDP ratio is estimated at 10.3 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, ensuring Alberta is in a strong position to pay its debt.
Alberta’s economy (as measured by real gross domestic product or GDP) is expected to grow by 4.9 per cent this year.
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