Friday, April 12, 2024

Government released Annual Fiscal Update

On Thursday June 28, the Alberta Government released their annual fiscal update. As part of that update the government explained that at year-end there were more than 2.3 million Albertans working.

Alberta’s population is once again growing faster than the national average at 1.4 per cent. Population grew throughout the recession – driven by immigration and natural increase, but in the last half of the fiscal year we also saw positive net interprovincial migration.

In 2017-18, Alberta’s net debt to GDP ratio was six per cent, with the next closest province more than twice as high at 15 per cent, and most provinces above 30 per cent. The Alberta government has net assets totalling $29.7 billion.

The Heritage Fund’s book value was $15.6 billion, an increase of $230 million from March 31, 2017.

WTI averaged US$53.69 per barrel (up $5.76 from 2016-17, and $1.31 below the Budget 2017 estimate).

You can read the media release here.