The Alberta government says it ended the 2022-23 budget year with a petro-powered $11.6 billion surplus, up from its third-quarter estimate of $10.4 billion.
Finance Minister Nate Horner says it’s a positive report.
The province says its strong financial situation allowed it to pay down $13.3 billion in debt.
It also saw the Alberta Heritage Savings Trust Fund grow by $2.5 billion to $21.2 billion.
Revenues came in at $76.1 billion, which is $13.5 billion more than expected, due to non-renewable resource and tax revenues.
The government spent $64.5 billion, which was $2.4 billion more than budgeted, on higher-than-expected health-care costs and affordability measures to help Albertans deal with inflation.