Alberta has the lowest government debt burden of any province.
Claimed by: Cited to argue Alberta is fiscally strong
True: True as written according to the settled evidence. How we rate.
Summary
This holds up on the standard measures. Statistics Canada's consolidated government finance data for 2024 put Alberta's net debt per capita at about 1,972 dollars, the lowest of any province, and its net debt-to-GDP ratio at roughly 2 percent, also the lowest. RBC's analysis of the 2024 provincial budget likewise describes Alberta as having the lightest debt burden in the country. The important caveat is that this strength rests heavily on volatile oil and gas royalties, so the position can erode quickly when energy prices fall.
Evidence
In 2024 Alberta had the lowest net debt per capita of any province at about 1,972 dollars, and the lowest net debt-to-GDP ratio at roughly 2 percent.
Statistics Canada (Consolidated Government Finance Statistics, 2024)
RBC describes Alberta's net debt-to-GDP ratio as below any other province and the province as having the lightest debt burden in the country, supported by surpluses and high commodity prices.