Overview
Budget 2024 is a responsible plan to strengthen health care and education, build safe and supportive communities, manage the province’s resources wisely and promote job creation to continue to build Alberta’s competitive advantage. The budget maintains the government’s commitment to fiscal responsibility and efficient delivery of public services while recognizing and addressing the needs of Alberta’s growing population.
As of the 2024-25 first-quarter fiscal update, Alberta’s government is forecasting a surplus of $2.9 billion in 2024-25, $2.6 billion more than estimated in Budget 2024.
Read the 2024-25 First Quarter Fiscal Update and Economic Statement.
What the budget means for you
Budget 2024 continues to build a refocused health-care system, so every Albertan has access to the care they need, when and where they need it. Supports for education and social services are helping children, families and the vulnerable. Investments in safe, secure communities will increase public safety and protect Albertans and the environment from potential drought, flood and wildfire conditions.
Economic outlook
Alberta’s economy is expected to pick up this year, but will lag behind the province’s record population increase. Real gross domestic product (GDP) growth is forecast to rise to 3.3% this year, up almost half a percentage point from budget. But with population set to grow faster at 4.6%, Alberta is falling behind, with real GDP per capita forecast to decline again this year.
Revenue
Total revenue of $76.2 billion is now forecast, which is $2.7 billion higher than estimated at budget. This improvement is mostly due to higher-than-expected income from non-renewable resources and personal income taxes.
Expense
Total expense of $73.3 billion is now forecast, an increase of $0.1 billion from budget. Operating expense will increase by $0.2 billion in 2024-25, primarily to support the growing number of students in K to 12 education. Disaster and emergency assistance, mainly for wildfires, is forecast at $573 million in 2024-25.
Capital Plan
In 2024-25, the Capital Plan is expected to be $8.5 billion, which is $0.2 billion more than initially forecast in budget. This increase mainly comes from moving unspent funds from 2023-24 to the current year.
Watch the news conference
Finance Minister Nate Horner provides details on Budget 2024.
News
- Sep 26, 2024
Alberta is lowering the cost of borrowing for municipalities, enabling them to invest more in services and infrastructure.
- Sep 18, 2024
Grants from Alberta’s government help roll out the red carpet for the province’s film and television industry.
- Aug 29, 2024
Alberta is carefully managing its finances to ensure supports for Albertans are available now and into the future.
- Aug 28, 2024
Alberta’s government is providing more than $12 million to 248 non-profit initiatives to help build strong and vibrant communities across the province.
- Jul 22, 2024
President of Treasury Board and Minister of Finance Nate Horner issued the following statement on Alberta’s recent credit rating upgrade:
- Jul 3, 2024
Minister of Justice Mickey Amery issued the following statement on the current state of legal aid services in Alberta:
- Jun 27, 2024
Positive 2023-24 year-end results display the government’s commitment to fiscal responsibility that ensures prosperity and opportunity for Albertans.
- Jun 19, 2024
New Calgary Radiopharmaceutical Centre enters the design development stage, bringing enhanced access to cancer, cardiac and neurological treatments closer.
- Jun 13, 2024
President of Treasury Board and Minister of Finance Nate Horner issued the following statement on Alberta’s recent long-term credit rating upgrade: