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Alberta finances

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By Grant Levy Updated October 16, 2026

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Government of Alberta total revenue, 2026-27 (first-quarter forecast)

Forecast

$86,279,000,000 ($86.3B)

Period: FY2026-27
Unit: Canadian dollars
Stored value: 86279000000

First-quarter forecast (August 27, 2026). The 2026-27 forecast moved from a deficit at Budget 2026 to a surplus, mainly on higher oil prices.

Government of Alberta, Treasury Board and Finance, 2026-27 First Quarter Fiscal Update and Economic Statement (opens in a new tab)p. 3, "Fiscal Plan Summary" table (millions of dollars), 2026-27 Forecast column, "Total revenue" rowPublished August 27, 2026. Accessed September 28, 2026.

Government of Alberta total revenue, 2026-27 (Budget 2026 estimate)

Forecast

$74,550,000,000 ($74.6B)

Period: FY2026-27
Unit: Canadian dollars
Stored value: 74550000000

Budget 2026 estimate (February 26, 2026), since updated by the first-quarter forecast.

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Total revenue" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta total expense, 2026-27 (first-quarter forecast)

Forecast

$84,237,000,000 ($84.2B)

Period: FY2026-27
Unit: Canadian dollars
Stored value: 84237000000

First-quarter forecast (August 27, 2026). The 2026-27 forecast moved from a deficit at Budget 2026 to a surplus, mainly on higher oil prices.

Government of Alberta, Treasury Board and Finance, 2026-27 First Quarter Fiscal Update and Economic Statement (opens in a new tab)p. 3, "Fiscal Plan Summary" table (millions of dollars), 2026-27 Forecast column, "Total expense" rowPublished August 27, 2026. Accessed September 28, 2026.

Government of Alberta total expense, 2026-27 (Budget 2026 estimate)

Forecast

$83,922,000,000 ($83.9B)

Period: FY2026-27
Unit: Canadian dollars
Stored value: 83922000000

Budget 2026 estimate (February 26, 2026), since updated by the first-quarter forecast.

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Total expense" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta surplus or deficit, 2026-27 (first-quarter forecast)

Forecast

$2,041,000,000 ($2.0B)

Period: FY2026-27
Unit: Canadian dollars
Stored value: 2041000000

First-quarter forecast (August 27, 2026). The 2026-27 forecast moved from a deficit at Budget 2026 to a surplus, mainly on higher oil prices.

Government of Alberta, Treasury Board and Finance, 2026-27 First Quarter Fiscal Update and Economic Statement (opens in a new tab)p. 3, "Fiscal Plan Summary" table (millions of dollars), 2026-27 Forecast column, "Surplus / (deficit)" rowPublished August 27, 2026. Accessed September 28, 2026.

Government of Alberta surplus or deficit, 2026-27 (Budget 2026 estimate)

Forecast

-$9,373,000,000 (-$9.4B)

Period: FY2026-27
Unit: Canadian dollars
Stored value: -9373000000

Budget 2026 estimate (February 26, 2026), since updated by the first-quarter forecast.

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Surplus / (deficit)" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta debt servicing costs, 2026-27 (first-quarter forecast)

Forecast

$3,182,000,000 ($3.2B)

Period: FY2026-27
Unit: Canadian dollars
Stored value: 3182000000

First-quarter forecast (August 27, 2026). The 2026-27 forecast moved from a deficit at Budget 2026 to a surplus, mainly on higher oil prices.

Government of Alberta, Treasury Board and Finance, 2026-27 First Quarter Fiscal Update and Economic Statement (opens in a new tab)p. 3, "Fiscal Plan Summary" table (millions of dollars), 2026-27 Forecast column, "Debt servicing costs" rowPublished August 27, 2026. Accessed September 28, 2026.

Government of Alberta debt servicing costs, 2026-27 (Budget 2026 estimate)

Forecast

$3,407,000,000 ($3.4B)

Period: FY2026-27
Unit: Canadian dollars
Stored value: 3407000000

Budget 2026 estimate (February 26, 2026), since updated by the first-quarter forecast.

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Debt servicing costs" row, 2026-27 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta total revenue, 2025-26 (third-quarter forecast)

Forecast

$75,292,000,000 ($75.3B)

Period: FY2025-26
Unit: Canadian dollars
Stored value: 75292000000

Latest official figure: the 2025-26 Annual Report has been delayed by the health-system restructuring. Alberta has said it expects the year to end in a surplus but has not published a number.

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Total revenue" row, 2025-26 Forecast columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta total expense, 2025-26 (third-quarter forecast)

Forecast

$79,426,000,000 ($79.4B)

Period: FY2025-26
Unit: Canadian dollars
Stored value: 79426000000

Latest official figure: the 2025-26 Annual Report has been delayed by the health-system restructuring. Alberta has said it expects the year to end in a surplus but has not published a number.

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Total expense" row, 2025-26 Forecast columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta surplus or deficit, 2025-26 (third-quarter forecast)

Forecast

-$4,134,000,000 (-$4.1B)

Period: FY2025-26
Unit: Canadian dollars
Stored value: -4134000000

Latest official figure: the 2025-26 Annual Report has been delayed by the health-system restructuring. Alberta has said it expects the year to end in a surplus but has not published a number.

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Surplus / (deficit)" row, 2025-26 Forecast columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta total revenue, 2024-25

Actual

$82,469,000,000 ($82.5B)

Period: FY2024-25
Unit: Canadian dollars
Stored value: 82469000000

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Total revenue" row, 2024-25 Actual columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta total expense, 2024-25

Actual

$74,149,000,000 ($74.1B)

Period: FY2024-25
Unit: Canadian dollars
Stored value: 74149000000

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Total expense" row, 2024-25 Actual columnPublished February 26, 2026. Accessed September 28, 2026.

Government of Alberta surplus or deficit, 2024-25

Actual

$8,320,000,000 ($8.3B)

Period: FY2024-25
Unit: Canadian dollars
Stored value: 8320000000

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Overview, "Budget 2026 Fiscal Summary" table, p. 17 (millions of dollars), "Surplus / (deficit)" row, 2024-25 Actual columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta net financial debt, March 31, 2025

Actual

$34,337,000,000 ($34.3B)

Period: 2025-03-31
Unit: Canadian dollars
Stored value: 34337000000

Alberta's "net debt" measure: financial assets minus liabilities (net financial debt). It counts the Heritage Fund as a financial asset.

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, "Summary Statement of Financial Position", p. 147 (millions of dollars), "Net financial assets / (debt)" row, 2025 Actual columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta net financial debt, March 31, 2026 (forecast)

Forecast

$39,699,000,000 ($39.7B)

Period: 2026-03-31
Unit: Canadian dollars
Stored value: 39699000000

Alberta's "net debt" measure: financial assets minus liabilities (net financial debt). It counts the Heritage Fund as a financial asset.

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, "Summary Statement of Financial Position", p. 147 (millions of dollars), "Net financial assets / (debt)" row, 2026 Forecast columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta net financial debt, March 31, 2027 (first-quarter forecast)

Forecast

$40,280,000,000 ($40.3B)

Period: 2027-03-31
Unit: Canadian dollars
Stored value: 40280000000

Alberta's "net debt" measure: financial assets minus liabilities (net financial debt). It counts the Heritage Fund as a financial asset.

Government of Alberta, Treasury Board and Finance, 2026-27 First Quarter Fiscal Update and Economic Statement (opens in a new tab)p. 8, "Balance Sheet Summary" table (millions of dollars), March 31, 2027 Forecast column, "Net financial assets / (debt)" rowPublished August 27, 2026. Accessed September 28, 2026.

Alberta net financial debt, March 31, 2027 (Budget 2026 estimate)

Forecast

$51,363,000,000 ($51.4B)

Period: 2027-03-31
Unit: Canadian dollars
Stored value: 51363000000

Alberta's "net debt" measure: financial assets minus liabilities (net financial debt). It counts the Heritage Fund as a financial asset.

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, "Summary Statement of Financial Position", p. 147 (millions of dollars), "Net financial assets / (debt)" row, 2027 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta taxpayer-supported debt, March 31, 2025

Actual

$85,225,000,000 ($85.2B)

Period: 2025-03-31
Unit: Canadian dollars
Stored value: 85225000000

Borrowing for the Capital Plan and the Fiscal Plan, plus public-private partnership liabilities and pre-1992 Teachers' Pension Plan debt; excludes self-supported lending.

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 2 "Statement of Financial Position", p. 149 (millions of dollars), "Total taxpayer-supported debt" row, 2025 Actual columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta taxpayer-supported debt, March 31, 2026 (forecast)

Forecast

$92,086,000,000 ($92.1B)

Period: 2026-03-31
Unit: Canadian dollars
Stored value: 92086000000

Borrowing for the Capital Plan and the Fiscal Plan, plus public-private partnership liabilities and pre-1992 Teachers' Pension Plan debt; excludes self-supported lending.

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 2 "Statement of Financial Position", p. 149 (millions of dollars), "Total taxpayer-supported debt" row, 2026 Forecast columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta taxpayer-supported debt, March 31, 2027 (first-quarter forecast)

Forecast

$94,813,000,000 ($94.8B)

Period: 2027-03-31
Unit: Canadian dollars
Stored value: 94813000000

Borrowing for the Capital Plan and the Fiscal Plan, plus public-private partnership liabilities and pre-1992 Teachers' Pension Plan debt; excludes self-supported lending.

Government of Alberta, Treasury Board and Finance, 2026-27 First Quarter Fiscal Update and Economic Statement (opens in a new tab)p. 8, "Balance Sheet Summary" table (millions of dollars), March 31, 2027 Forecast column, "Total taxpayer-supported debt" rowPublished August 27, 2026. Accessed September 28, 2026.

Alberta taxpayer-supported debt, March 31, 2027 (Budget 2026 estimate)

Forecast

$108,867,000,000 ($108.9B)

Period: 2027-03-31
Unit: Canadian dollars
Stored value: 108867000000

Borrowing for the Capital Plan and the Fiscal Plan, plus public-private partnership liabilities and pre-1992 Teachers' Pension Plan debt; excludes self-supported lending.

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 2 "Statement of Financial Position", p. 149 (millions of dollars), "Total taxpayer-supported debt" row, 2027 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta net financial debt as a share of GDP, 2024-25

Actual

7.2%

Period: FY2024-25
Unit: Ratio, shown as a percentage
Stored value: 0.072

Alberta reports this was the lowest ratio among the provinces in 2024-25 (Fiscal Plan 2026-29, p. 137).

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, "Summary Statement of Financial Position", p. 147 (millions of dollars), "Net debt to GDP" row, 2025 Actual columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta net financial debt as a share of GDP, 2025-26 (forecast)

Forecast

8.3%

Period: FY2025-26
Unit: Ratio, shown as a percentage
Stored value: 0.083

Year-end net financial debt over calendar-year nominal GDP.

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, "Summary Statement of Financial Position", p. 147 (millions of dollars), "Net debt to GDP" row, 2026 Forecast columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta net financial debt as a share of GDP, 2026-27 (first-quarter forecast)

Forecast

7.7%

Period: FY2026-27
Unit: Ratio, shown as a percentage
Stored value: 0.077

Year-end net financial debt over calendar-year nominal GDP.

Government of Alberta, Treasury Board and Finance, 2026-27 First Quarter Fiscal Update and Economic Statement (opens in a new tab)p. 8, "Balance Sheet Summary" table (millions of dollars), March 31, 2027 Forecast column, "Net financial debt / GDP (calendar year, nominal)" rowPublished August 27, 2026. Accessed September 28, 2026.

Alberta net financial debt as a share of GDP, 2026-27 (Budget 2026 estimate)

Forecast

10.5%

Period: FY2026-27
Unit: Ratio, shown as a percentage
Stored value: 0.105

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, "Summary Statement of Financial Position", p. 147 (millions of dollars), "Net debt to GDP" row, 2027 Estimate columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Heritage Savings Trust Fund, fair value of net financial assets, December 31, 2025

Actual

$31,900,000,000 ($31.9B)

Period: 2025-12-31
Unit: Canadian dollars
Stored value: 31900000000

Latest published fair value. The Fiscal Plan balance sheet reports the fund on a different basis.

Government of Alberta, Heritage Savings Trust Fund (opens in a new tab)Section "2025-26 Third quarter report update": "As of December 31, 2025, the fair value of Heritage Fund net financial assets was $31.9 billion."Accessed September 28, 2026.

Alberta Heritage Savings Trust Fund, balance-sheet value, March 31, 2025

Actual

$24,743,000,000 ($24.7B)

Period: 2025-03-31
Unit: Canadian dollars
Stored value: 24743000000

Fiscal Plan balance-sheet basis, not fair value.

Government of Alberta, Treasury Board and Finance, Budget 2026 Fiscal Plan 2026-29 (opens in a new tab)Tables section, Schedule 2 "Statement of Financial Position", p. 149 (millions of dollars), "Alberta Heritage Savings Trust Fund" row, 2025 Actual columnPublished February 26, 2026. Accessed September 28, 2026.

Alberta Heritage Savings Trust Fund, balance-sheet value, March 31, 2027 (first-quarter forecast)

Forecast

$34,353,000,000 ($34.4B)

Period: 2027-03-31
Unit: Canadian dollars
Stored value: 34353000000

Fiscal Plan balance-sheet basis, not fair value.

Government of Alberta, Treasury Board and Finance, 2026-27 First Quarter Fiscal Update and Economic Statement (opens in a new tab)p. 8, "Balance Sheet Summary" table (millions of dollars), March 31, 2027 Forecast column, "Alberta Heritage Savings Trust Fund" rowPublished August 27, 2026. Accessed September 28, 2026.

S&P Global long-term credit rating, Province of Alberta

Actual

“AA-”

Period: 2026-05-13
Unit: Verbatim text

Latest rating action May 13, 2026; outlook: Stable.

Government of Alberta, Investor relations (opens in a new tab)Table "Provincial credit ratings", S&P Global rowAccessed September 28, 2026.

S&P Global rating outlook, Province of Alberta

Actual

“Stable”

Period: 2026-05-13
Unit: Verbatim text

Government of Alberta, Investor relations (opens in a new tab)Table "Provincial credit ratings", S&P Global rowAccessed September 28, 2026.

Moody's Investors Service long-term credit rating, Province of Alberta

Actual

“Aa2”

Period: 2026-08-31
Unit: Verbatim text

Latest rating action August 31, 2026; outlook: Stable.

Government of Alberta, Investor relations (opens in a new tab)Table "Provincial credit ratings", Moody's Investors Service rowAccessed September 28, 2026.

Moody's Investors Service rating outlook, Province of Alberta

Actual

“Stable”

Period: 2026-08-31
Unit: Verbatim text

Government of Alberta, Investor relations (opens in a new tab)Table "Provincial credit ratings", Moody's Investors Service rowAccessed September 28, 2026.

DBRS Morningstar long-term credit rating, Province of Alberta

Actual

“AA”

Period: 2026-09-09
Unit: Verbatim text

Latest rating action September 9, 2026; outlook: Stable trend.

Government of Alberta, Investor relations (opens in a new tab)Table "Provincial credit ratings", DBRS Morningstar rowAccessed September 28, 2026.

DBRS Morningstar rating outlook, Province of Alberta

Actual

“Stable trend”

Period: 2026-09-09
Unit: Verbatim text

Government of Alberta, Investor relations (opens in a new tab)Table "Provincial credit ratings", DBRS Morningstar rowAccessed September 28, 2026.

Fitch Ratings Inc. long-term credit rating, Province of Alberta

Actual

“AA”

Period: 2026-05-22
Unit: Verbatim text

Latest rating action May 22, 2026; outlook: Stable.

Government of Alberta, Investor relations (opens in a new tab)Table "Provincial credit ratings", Fitch Ratings Inc. rowAccessed September 28, 2026.

Fitch Ratings Inc. rating outlook, Province of Alberta

Actual

“Stable”

Period: 2026-05-22
Unit: Verbatim text

Government of Alberta, Investor relations (opens in a new tab)Table "Provincial credit ratings", Fitch Ratings Inc. rowAccessed September 28, 2026.

Median total income, Alberta economic families and persons not in an economic family, 2024

Actual

$96,600

Period: 2024
Unit: Canadian dollars
Stored value: 96600

Canadian Income Survey, 2024 constant dollars. The closest published measure to a household median.

Statistics Canada, Table 11-10-0190-01 Market income, government transfers, total income, income tax and after-tax income by economic family type (opens in a new tab)Alberta; Median total income; Economic families and persons not in an economic family; 2024 (vector v96414571)Published April 29, 2026. Accessed September 28, 2026.

Median total income, Alberta economic families (two or more people), 2024

Actual

$132,700

Period: 2024
Unit: Canadian dollars
Stored value: 132700

Canadian Income Survey, 2024 constant dollars.

Statistics Canada, Table 11-10-0190-01 Market income, government transfers, total income, income tax and after-tax income by economic family type (opens in a new tab)Alberta; Median total income; Economic families; 2024 (vector v96414572)Published April 29, 2026. Accessed September 28, 2026.

Median employment income, Albertans aged 15 and over with employment income, 2024

Actual

$48,400

Period: 2024
Unit: Canadian dollars
Stored value: 48400

Canadian Income Survey, 2024 constant dollars. An individual measure, matching a calculator that taxes one person's income.

Statistics Canada, Table 11-10-0239-01 Income of individuals by age group, gender and income source, Canada, provinces and selected census metropolitan areas (opens in a new tab)Alberta; 15 years and over; Total - Gender; Employment income; Median income (excluding zeros); 2024 (vector v107680668)Published April 29, 2026. Accessed September 28, 2026.

Average employment income, Albertans aged 15 and over with employment income, 2024

Actual

$64,400

Period: 2024
Unit: Canadian dollars
Stored value: 64400

Canadian Income Survey, 2024 constant dollars. The mean, pulled up by high earners; the median (“Median employment income, Albertans aged 15 and over with employment income, 2024”) describes the typical earner.

Statistics Canada, Table 11-10-0239-01 Income of individuals by age group, gender and income source, Canada, provinces and selected census metropolitan areas (opens in a new tab)Alberta; 15 years and over; Total - Gender; Employment income; Average income (excluding zeros); 2024Published April 29, 2026. Accessed September 28, 2026.

Alberta net financial debt per Albertan, March 31, 2027 (first-quarter forecast)

DerivedForecast

$7,896

Period: 2027-03-31
Unit: Canadian dollars
Stored value: 7896.4134834985

Formula: Alberta net financial debt at March 31, 2027 ÷ population of Alberta on July 1, 2026

Inputs

Alberta net financial debt, March 31, 2027 (first-quarter forecast) (2027-03-31): $40,280,000,000
Population of Alberta, July 1, 2026 (2026-07-01): 5,101,050

Government of Alberta, Treasury Board and Finance, 2026-27 First Quarter Fiscal Update and Economic Statement (opens in a new tab)p. 8, "Balance Sheet Summary" table (millions of dollars), March 31, 2027 Forecast column, "Net financial assets / (debt)" rowPublished August 27, 2026. Accessed September 28, 2026.
Statistics Canada, Table 17-10-0009-01 Population estimates, quarterly (opens in a new tab)Alberta (vector v15), July 1, 2026Published September 23, 2026. Accessed September 28, 2026.

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