Alberta: Budget 2023 - Surpluses Intact, but Plenty of Risk Remains

Alberta’s fiscal year 2023–24 (FY2024) budget maintained surplus projections for the next four fiscal years, but significantly reduced them. Economic forecasts are strong for the next several years, reflecting strong crude price expectations, hefty population gains, and major project activity. But downside risk is real given global economic uncertainty and record high revenue sensitivity to WTI oil prices.