BRITISH COLUMBIA

BC Economic Growth Forecast Scaled Back

01/17/2013 03:03 EST | Updated 03/19/2013 05:12 EDT
CP
VANCOUVER - Economists are revising growth projections for B.C.'s economy this year and next.

The B.C. Economic Forecast Council, which advises the provincial government, says it expects the economy to grow by 2.1 per cent this year, down from the 2.2 per cent the council predicted two months ago.

The council also says the B.C. economy will grow by 2.5 per cent next year, down from 2.6 per cent.

However, 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 on Thursday, saying while he's reassured by the predictions, the province must still be cautious with its finances because it depends 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.

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