Alberta in net debt for the first time in nearly 20 years

The Government of Alberta released its 2016/17 Annual Report last week. The official deficit for that fiscal year totalled roughly $10.8 billion, bringing the province into a net debt position for the first time in nearly 20 years. The Alberta government’s total debts now exceed its financial assets.Despite the bad news, Finance Minister Joe Ceci still maintains the budget will be balanced by 2023/24. However, Albertans should view this claim with some skepticism.As of the March budget, the province is still expected to have a $7.2 billion deficit in 2019/20 (the last year for which estimates are provided). Importantly, that

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