'Economic engine': Alberta predicting $2.4-billion surplus for petro-powered economy

Alberta is predicting a $2.4-billion budget surplus for its petro-powered economy this year, with plans to take a big bite out of its debt and put up guardrails to prevent eye-popping deficits when oil booms go bust.

“This plan achieves the priorities of Albertans, which include ensuring the government lives within its means,” Finance Minister Travis Toews told reporters Tuesday before introducing the 2023-24 budget in the legislature.

"Our relentless focus on investment attraction, job creation and diversification has secured our position as the economic engine of Canada."

It's the first budget under United Conservative Party Premier Danielle Smith and the last before a scheduled provincial election in May.