Growth of BC economy to slow: Council

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VANCOUVER (NEWS1130) – Economists are revising growth projections for the BC economy for the next couple of years.  The BC Economic Forecast Council expects the economy to grow by 2.1 per cent this year, down from the 2.2 per cent it predicted two months ago.

The council adds the province’s economy will grow by 2.5 per cent next year, down from 2.6 per cent.  The forecast average for the period from 2015 to 2017 remains the same at 2.6 per cent.

Finance Minister Mike de Jong announced the numbers at the Vancouver Board of Trade this morning.  He’s reassured by the predictions but says the province still has to be cautious.  He reiterated that much of the government’s finances depend on trade with countries where economic recovery is uncertain.

De Jong says the government remains committed to balancing the books when the provincial budget is tabled next month.

In November, the province unveiled a deficit that had gone up by nearly $330 million, to $1.47 billion, a number that was way worse than what the government anticipated.

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