EDMONTON—Alberta’s budget is out of the red, forecasts a rosy economic future and promises big-bucks spending on hospitals, health care and programs to plug gaps in its burgeoning labour force. Finance Minister Travis Toews says the 2022 budget forecasts a $500-million surplus, with small surpluses projected in years after that. It’s been seven years since the province’s last balanced budget and the surplus represents a profound turnaround from recent budgets drowning in staggering multibillion-dollar deficits. Toews says Alberta’s economy will fully recover from the contraction that first started in 2014 and the province will lead the nation in economic growth. Rocketing revenues from oil and gas are the prime motivator, but years of belt-tightening and a diversified economy have also played a significant role, he said Thursday. “Without the flattening of this operating expense curve, we would not be presenting a balanced budget today.” The forecast surplus is yet another …