Which Canadian province would be better for Canada’s economy?
By the time Canadians are able to vote on March 14, they’ll have had a week to digest the news of a federal election that has been plagued by political violence, scandals and controversies.
But there’s still plenty of time to get the full picture, and the numbers are already telling us that Alberta’s economy could be a lot worse than anyone imagined.
The country’s top economic number is the gross domestic product, which measures the size of a country’s economy minus its gross domestic debt, or borrowing.
For the 2016 fiscal year, Alberta’s GDP was $7.6 billion, or about 0.6 per cent of Canada’s gross domestic output.
It was also down $1.2 billion from 2015.
Alberta’s total debt is estimated at $24.5 billion.
That’s the second-highest debt in Canada, behind only Quebec, and higher than any other province.
Alberta has also seen its provincial debt grow faster than its overall debt.
Alberta was the only province in the country that saw its debt grow more rapidly than its GDP between 2015 and 2017.
Alberta had a total debt of $18.5 trillion as of March, up from $17.4 trillion as recently as a year ago.
The province’s gross debt as of June 30 was $16.9 billion, up by $1 billion from the same month in 2015.
The difference in gross debt between 2015-16 and 2017-18 was $2.6 trillion, according to a March report from the Canadian Centre for Policy Alternatives.
This is a lot of money.
The average Canadian household has $30,000 in net worth, according the report.
The median household income in Alberta is $36,000, compared to the national median of $27,000.
The government’s debt to GDP ratio is one of the highest in the world.
For 2016-17, Alberta had an outstanding balance of $20.9 trillion.
That is $3.1 trillion more than the United States, which has a debt of about $29 trillion.
The federal government is also facing the biggest deficit in the nation’s history.
The deficit for Alberta is estimated to be $8.3 billion, which is nearly $1 trillion higher than the federal deficit for the United Kingdom.
Alberta is also the only provincial government in Canada with a debt to its GDP ratio below 20 per cent.
That means the province’s government owes more to its creditors than the Canadian government owes to its people.
Alberta also has the highest share of debt in the economy, at 40 per cent, according a March 2017 report by Moody’s Analytics.
Alberta accounts for about two-thirds of the total outstanding debt in Alberta, which means that the province is a major contributor to the federal debt.
Canada’s overall debt is $33.3 trillion, down from $34.9 trln in 2016-2017.
That was down from the federal government’s $33 trillion, but it was also up from the provincial debt of just $11.4 billion.
Alberta owes about $1,100 in taxes to Canada every day, or $1 in every $3 of the province.
In contrast, the federal, provincial and municipal governments collectively owed just $4.4 in taxes each, or 0.2 per cent per day, for 2016-19, according data from the Office of the Auditor General.
The provincial government owed just 1.2 cents in taxes, or only $4 per $2 of the provincial revenue.
In 2017-19 Alberta had $4,664 per capita in income, a figure that was down by more than $400 from the previous year.
In comparison, Alberta saw an increase in the number of people receiving public assistance, up $300 million.
The number of Canadians receiving public benefit payments rose by more then $200 million, and those benefits have been growing for years.
The growth in benefit payments has also been fueled by an increase of benefits in 2017-20, from $5,716 per person in 2016 to $6,095 per person.
Alberta does have a relatively small number of workers, which also helps.
The unemployment rate for Alberta was just 3.6% in 2017, down slightly from 3.9% in 2016.
The Alberta unemployment rate is a bit lower than the national rate of 4.9%.
The province is also among the most economically depressed provinces in Canada.
The national unemployment rate in 2017 was 4.8%.
Alberta’s rate is also slightly higher than Ontario’s, which had the lowest unemployment rate at 4.3%.
Alberta also saw a small increase in housing prices in 2017.
The prices for detached homes rose 2.9 per cent in 2017 to $1 million, while detached condos rose 3.3 per cent to $853,500.
The price of single-family homes, on the other hand, rose 2 per cent year over year to $3,500,000 while condos rose 0.4 per cent a year to a new all-