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Alberta budget

Alberta: 2025–26 Q2 Update

Deficit Narrows Slightly Even as Oil Prices Slide

November 28, 2025
Randall Bartlett
Deputy Chief Economist

The Government of Alberta released its updated outlook for the 2025–26 fiscal year (FY26) earlier today, and the news was mixed. On the plus side, the provincial government is now anticipating a slightly smaller budget deficit this year, shrinking by $41M to -$6.4B. Despite higher expenses and slightly weaker revenues, the province’s ample contingency was more than sufficient to take up the slack. 

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Alberta: 2025–26 Q2 Update (PDF, 392 KB)
NOTE TO READERS: The letters k, M and B are used in texts, graphs and tables to refer to thousands, millions and billions respectively. IMPORTANT: This document is based on public information and may under no circumstances be used or construed as a commitment by Desjardins Group. While the information provided has been determined on the basis of data obtained from sources that are deemed to be reliable, Desjardins Group in no way warrants that the information is accurate or complete. The document is provided solely for information purposes and does not constitute an offer or solicitation for purchase or sale. Desjardins Group takes no responsibility for the consequences of any decision whatsoever made on the basis of the data contained herein and does not hereby undertake to provide any advice, notably in the area of investment services. Data on prices and margins is provided for information purposes and may be modified at any time based on such factors as market conditions. The past performances and projections expressed herein are no guarantee of future performance. Unless otherwise indicated, the opinions and forecasts contained herein are those of the document’s authors and do not represent the opinions of any other person or the official position of Desjardins Group.