Just like many other provinces over the years, Alberta carried a debt load for many years.

When was Alberta Debt free?

Ralph Klein declared Alberta to be debt free on Monday, July 12, 2004.

A combination of spending cuts and high oil prices allowed Alberta to become the only debt free province of Canada on that day.

Before that date, B.C. was the last Canadian province to be debt free in the 1960s.

News article from the historic day Alberta became debt free in 2004.

When Did Alberta Go Back Into Debt?

Alberta lost it’s debt free status in the fiscal year 2016/17.