The provincial economy is expected to continue to grow modestly this year and next year, according to updated forecasts from private-sector economic experts who advise the B.C. government, Finance Minister Michael de Jong announced yesterday at the Vancouver Board of Trade.
The B.C. Economic Forecast Council said it expects B.C.'s economy to post 2.1% growth in 2013, down slightly from the 2.2% it predicted two months ago at its annual meeting. The council also slightly reduced its 2014 forecast to 2.5%, down from 2.6%. The forecast average for 2015-17 remains at 2.6%.
The 14-member council presents forecasts for B.C.'s economic growth as part of the province's annual budget process. This is the first year the B.C. Economic Forecast Council predictions have been open to the media.