Southern Alberta Council on Public Affairs (SACPA)

Budget 2019 reflects a commitment to responsible fiscal management and a promise to balance the budget in 4 years. It's focused on creating jobs and delivering public services and infrastructure to support private sector investment and a vibrant society. Alberta's many successive provincial deficits have created a serious financial situation and a debt burden that has reached $62.7 billion. Government spent almost $2 billion on interest (debt servicing) last year – more than what was spent on 17 out of 21 ministries. Economic growth is expected at 0.6% in 2019 reflecting market access challenges. The economy should pick up strength next year, but it will take time for the labour market to fully recover. Although growth prospects are solid, external risks are high for Alberta's trade-and-energy driven economy. Total revenue is forecast to remain flat at approx. $50 billion in 2019-20 and 2020-21, before increasing in 2021-22 and 2022-23. A fairly modest but realistic oil price outlook, along with market acces