Alberta finished its 2024-25 budget year with an $8.3 billion surplus, the province's fourth straight year of extra money, according to a government announcement. The government said the strong results came from higher oil and gas revenues than expected, plus more money from corporate and personal income taxes and investment earnings. Total revenue hit $82.5 billion—nearly $9 billion more than budgeted.

Alberta stayed Canada's fastest-growing province this year, helped by record oil production and the opening of the Trans Mountain pipeline expansion in spring. Under provincial rules, half of the surplus—$2.6 billion—will go toward paying down debt or adding to the Heritage Savings Trust Fund. The rest goes into the Alberta Fund for future spending.

The province also dealt with major disasters this year, spending $1.9 billion on emergency response. That included $702 million to fight wildfires, $191 million for evacuations and recovery, and $1 billion to help farmers and producers hit by drought.