Alberta announced a surplus of $4.3 billion for the fiscal year ended last March.
Finance Minister Nate Horner says Alberta collected nearly $75 billion in the 2023-24 fiscal year, thanks to more than $19 billion from non-renewable resources and higher tax revenues due to increased immigration into the province.
Alberta spent more than $70 billion, more than expected, as the province struggled to cover natural disasters and revamp the basic structure of its health-care system.
The province also increased the size of its long-term savings bank, the Heritage Savings Trust Fund, to nearly $23 billion.
Debt servicing costs were $3 billion.
Horner says the province has taken a cautious approach that has led to improvements in the credit ratings of several businesses.
“Our government has delivered on our promise to balance our budget and provide Albertans with the services and supports they need,” the minister said in a statement Thursday.
“We will continue to create opportunities so that our children and grandchildren can continue to benefit from, develop and share the prosperity of the province,” he added.
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