Provincial Economies in a Holding Pattern
The province’s GDP is forecast to increase 2.7 per cent in 2023 and an additional 1.0 per cent in 2024.
- The province’s GDP is forecast to increase 2.7 per cent in 2023 and an additional 1.0 per cent in 2024.
- This year’s growth can be attributed to elevated investment in the non-residential sector of the economy, particularly in the energy sector.
- Overall, the provincial economy is expected to growth by just 1.0 per cent in 2023 and a further 0.8 per cent in 2024.
- Demand for some of the province’s key exports is also subdued, as the economies of key trading partners have decelerated.