Alberta budget a historic investment in health, projects a $18.2B deficit
Alberta’s 2021-22 budget projects a deficit of $18.2 billion, which is second only to the province’s record $20.2-billion chasm estimated in the current year.
Travis Toews, Alberta Minister of Finance and President of the Treasury Board said in a news conference before tabling the budget on Thursday, Feb. 25 that he wasn’t happy with COVID-19 and the pandemic, and the resulting economic challenges that it resulted in.
With an estimated $43.7 billion in revenue, Toews predicted an $18.2-billion deficit in the coming year – one of the largest in the province’s history.
By the end of the fiscal year, the provincial debt is expected to be $115.8 billion.
Among the planned spending this year is a $1.25-billion contingency fund to respond to COVID-19, which includes vaccination rollout, and will be focused on priorities such as acute care, continuing care, testing and assessment centres, contact tracing, surgical backlog caused by the pandemic, personal protective equipment, vaccine deployment and supports to shelters and vulnerable Albertans. However, any COVID contingency spending is subject to approval from cabinet and Treasury Board.
“Budget 2021 ensures that our health-care system has the resources required to deal with the COVID-19 pandemic. . . . contd.
