Finance Minister Nate Horner said it’s an accounting surplus, meaning the money is tied up, so in the meantime the province will need to take on $641 million in short-term borrowing
Alberta ’s first-quarter fiscal update shows the government expects a surplus of $2.9 billion but won’t have surplus cash this year and will need to borrow hundreds of millions of dollars.
The government has no plan to immediately introduce the personal tax cut Premier Danielle Smith promised in the 2023 election that could cost $1.4 billion. The province is pegging the average price of West Texas Intermediate oil to be US$76.50, up US$2.50 per barrel than what was forecast at budget.
Government Province Surplus Cash Alberta Horner Borrowing Alberta Nate Horner Danielle Smith
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