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The 2018 budget is titled A Recovery Built to Last and prioritizes economic and job diversification, protection of vital public services, and returning government spending to balance by the 2023-24 fiscal year. Real GDP for the province has grown 4.5% since 2017 and is expected increase another 2.7% for 2018-19. The yearly deficit is $8.8 billion, down from $10.3 billion in 2017. The Net Debt to GDP ratio is 8.7% for Alberta and remains the lowest in Canada across all provinces. Given the volatility of Alberta’s revenue due to the price of oil, a risk adjustment of $500 million is included for 2018-19 and increases to $700 million in 2019-20 and $1 billion in 2020-21.
