Alberta Premier Danielle Smith has warned of “significant” deficits in her upcoming budget on Thursday, with analysts forecasting a shortfall somewhere around $10 billion. St-Arnaud expects 2026-27 budget to hit a deficit just shy of $10 billion, which is loosely in line with other forecasts. After posting budget surpluses every year between 1997 and 2007 on the back of roaring oil prices, Alberta ran straight deficits from 2008 to 2020, with the exception of 2014. Expenses under Smith have ballooned from $60 billion in 2021-22 to $75 billion in the latest budget. St-Arnaud said that the Alberta government’s 2025-26 budget would have required oil prices to average around US$74 per barrel in order to cover costs.

Source: National Post February 25, 2026 12:33 UTC