Provincial Government Releases Quarter 1 Financial Report

The provincial government released its Quarter 1 Financial Report on Tuesday, August 27. The report compares the first three months of 2019-20 to the first three months of 2018-19. Revenue compared to the same quarter last year remained the same. Read the press release from the government for their analysis of the report. The government did not make any projections on revenue, expenses, oil prices or provincial GDP. A budget will not be tabled until later this fall.

Here are numbers from the report:

$13.4 billion: Total revenues. Steady with the same period last year.
$14.3 billion: Total expenses, about $364 million lower than in 2018-19.
$870 million: Total spending on the capital plan. That's $859 million lower than the same period last year.
$835 million: Total deficit, a drop of $365 million.
$164 million: Growth in resource revenue.
$4 billion: Income tax revenue up, $166 million.
$1.5 billion: Other tax revenues, down $66 million.

Read our policy and recommendations on Returning Alberta to Balanced Budgets.