Alberta’s debt service costs set to double in just four years

According to Alberta Finance Minister Joe Ceci (pictured above), the Notley government won’t alter its fiscal plan even if credit agencies again downgrade the province’s credit rating. This is troubling, as it means that Alberta will likely continue the rapid run-up in provincial debt that’s been taking place over the past several years.Indeed, the most recent budget calls for the province to run a $10.3 billion deficit in the 2017/18 fiscal year, and deficits averaging about $8.5 billion per year over the next two fiscal years. As a result of these big deficits and other borrowing to finance capital expenditures,

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