June 29, 2011
Alberta’s fiscal results improve in 2010-11.
Province posts lower deficit as economy grows.
2010-11 Annual Report Highlights
- Alberta’s fiscal results reflected growing confidence in the Alberta economy, which grew by an estimated 3.8 per cent in 2010.
- Alberta posted a $3.4 billion deficit in 2010-11, $1.3 billion lower than estimated at budget
- The Sustainability Fund, which stood at $11.2 billion at March 31, 2011 is $3 billion higher than forecast at budget.
- Revenue was $34.9 billion, $886 million higher than budget, mainly due to higher bitumen royalties, strong land lease sales, and investment income.
- Expense was $38.3 billion, $452 million lower than budget, mainly due to decreases in operating expense and re-profiling of capital grants to future years. No projects have been canceled.