Alberta posts first surplus in 6 years, finance minister says

Alberta saw a surplus of $755 million during its 2013-2014 fiscal year, its first surplus in 6 years.

Horner says the last year was a struggle to get through.

“We overcame many challenges last year—energy volatility, continued global economic uncertainty and of course the southern Alberta flooding. These events all had impacts on the lives of Albertans and on the province’s bottom line. That said, our strong balance sheet and surplus position show we have turned a corner financially.”

Total operational revenue came in at $45.3 billion,17% more than what was forecast. Higher energy prices and an increase in income tax helped with that.

There were also 61,400 jobs created over the year, keeping our unemployment rate at 4.6%, the lowest in the country.

“The bottom line is that we are the economic engine of Canada and will continue to be the province of choice for people who want a better future,” says Horner.

Spending was around $42 billion, and the province’s debt now sits at $8.7 billion for capital projects. The rainy-day contingency fund is at $4.7 billion, with another $1.3 billion ready to be transferred over there.

Agencies/Canadajournal