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- Moody’s Ratings boosts Alberta’s outlook to positive
- Balanced budget and spending restraint cited
LETHBRIDGE, AB: The Canadian Taxpayers Federation is applauding the provincial government for its latest credit rating outlook improvement.
“The province is getting this positive assessment from credit rating agencies because the government has a balanced budget and is restraining spending,” said Kris Sims, CTF Alberta Director. “Strengthening balanced budget legislation to curb spending was the right move.”
On Monday, Moody’s Ratings changed Alberta’s credit rating outlook to positive, up from stable and affirmed the province’s AA2 credit rating.
Moody’s cited the province’s balanced budget, spending restraint and debt payment rules as reasons for the improvement.
“The positive outlook reflects our view that if Alberta adheres to the governance controls as per its fiscal framework introduced in 2023, its debt and liquidity levels could be stronger than we currently project,” the report from Moody’s reads.
The CTF has been urging the Alberta government to keep spending increases below inflation plus population growth since the mid 1990s.
The Alberta government passed its balanced budget and spending restraint legislation last year.
The positive outlook from Moody’s follows a recent upgrade from the credit ratings agency, Fitch.
Interest charges on the provincial government’s debt will cost taxpayers $3.1 billion this year, according to government’s year-end report.
“Credit ratings matter because Albertans pay billions of dollars on debt interest charges every year,” Sims said. “Better credit ratings could make it less expensive to make payments on the debt, and the less money we waste on interest charges, the better.”
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For more information & interviews call:
Kris Sims, CTF Alberta Director
Phone or text: 604-997-1798
Email: [email protected]
X (Twitter): @kris_sims
The CTF is Canada’s leading non-partisan citizens’ advocacy group fighting for lower taxes, less waste and accountable government.
Founded in 1990, the CTF has seven offices across Canada.
The CTF is funded by free-will contributions that do not get tax receipts.
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