“I am pleased to see that Fitch Ratings has upgraded Alberta from “AA-” to AA with a continued stable outlook, stating that ‘Alberta used its recent economic rebound to accelerate fiscal improvements and lower its debt.’
“This upgrade confirms that Alberta is on the right path, as one of only two Canadian provinces to balance their budget this year. Our economy is growing rapidly across a variety of sectors, and with new added pipeline capacity we will only see that continue.
“In our balanced budget, we’re projecting a small surplus this fiscal year and in the years following, signifying the need for continued responsible fiscal management.
“I’m pleased that our fiscal responsibility is being noticed by multiple firms. Fitch follows Moody’s Investors Service, DBRS Morningstar, and S&P Global, who upgraded our credit ratings last year. The international bond market sees Alberta as a safe market with strong economic and fiscal fundamentals.
“We continue to monitor oil prices, and as interest rates remain high and inflation is an ongoing challenge, we may see further shifts in our fiscal situation, but we remain diligent and firm on our commitments to being a stable market for investment.
“We will continue to be responsible stewards of Alberta’s finances while ensuring Albertans’ needs are met both today and well into the future.
“That’s why we have committed to growing the Alberta Heritage Savings Trust Fund to between $250 billion and $400 billion by 2050, to ensure that our province remains prosperous for decades to come.”