Alberta's financial outlook has received a positive boost as S&P Global Ratings announced an upgrade to the province's long-term issuer credit rating to AA- from A+, with a continued stable outlook. Additionally, the short-term issuer credit rating was raised to A-1+ from A-1. President of Treasury Board and Minister of Finance Nate Horner expressed satisfaction with the credit rating upgrade, attributing it to Alberta's responsible fiscal management and robust economic growth strategy.In a statement, Minister Horner remarked, "This upgrade recognizes Alberta’s responsible fiscal management and strong economic growth strategy, which resulted in a balanced budget last fiscal year." The province's second-quarter fiscal update indicates Alberta continues to lead the country in economic growth, projecting a surplus of $5.5 billion for the fiscal year 2023/24. This represents a substantial increase of $3.2 billion from the Budget 2023 forecast.Despite potential challenges such as economic volatility, S&P Global Ratings anticipates Alberta's financial performance will remain stable in the coming years, attributing this resilience to oil prices and prudent financial management. This positive evaluation aligns with assessments from other credit rating agencies. Throughout the year, Moody’s Investors Service, DBRS Morningstar and Fitch Ratings Inc. have all acknowledged and upgraded their credit ratings for Alberta.Horner acknowledged the potential impact of factors such as volatile oil prices, high debt servicing costs, inflation challenges and global economic uncertainties. In response, he emphasized the government's commitment to fortifying Alberta's economic foundation. The new fiscal framework includes a mandate to use at least half of the available surplus cash to pay down debt. For the current fiscal year, Alberta is forecasted to reduce its debt by $3.2 billion."We will continue to manage Alberta’s finances responsibly while still meeting Albertans’ needs both today and well into the future," said Horner. .This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
Alberta's financial outlook has received a positive boost as S&P Global Ratings announced an upgrade to the province's long-term issuer credit rating to AA- from A+, with a continued stable outlook. Additionally, the short-term issuer credit rating was raised to A-1+ from A-1. President of Treasury Board and Minister of Finance Nate Horner expressed satisfaction with the credit rating upgrade, attributing it to Alberta's responsible fiscal management and robust economic growth strategy.In a statement, Minister Horner remarked, "This upgrade recognizes Alberta’s responsible fiscal management and strong economic growth strategy, which resulted in a balanced budget last fiscal year." The province's second-quarter fiscal update indicates Alberta continues to lead the country in economic growth, projecting a surplus of $5.5 billion for the fiscal year 2023/24. This represents a substantial increase of $3.2 billion from the Budget 2023 forecast.Despite potential challenges such as economic volatility, S&P Global Ratings anticipates Alberta's financial performance will remain stable in the coming years, attributing this resilience to oil prices and prudent financial management. This positive evaluation aligns with assessments from other credit rating agencies. Throughout the year, Moody’s Investors Service, DBRS Morningstar and Fitch Ratings Inc. have all acknowledged and upgraded their credit ratings for Alberta.Horner acknowledged the potential impact of factors such as volatile oil prices, high debt servicing costs, inflation challenges and global economic uncertainties. In response, he emphasized the government's commitment to fortifying Alberta's economic foundation. The new fiscal framework includes a mandate to use at least half of the available surplus cash to pay down debt. For the current fiscal year, Alberta is forecasted to reduce its debt by $3.2 billion."We will continue to manage Alberta’s finances responsibly while still meeting Albertans’ needs both today and well into the future," said Horner. .This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.