BC Economic Growth Forecast Scaled Back

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MIKE DE JONG
B.C. Finance Minister Mike de Jong, from left, Minister of Jobs, Tourism and Skills Training Pat Bell and NDP MLA Carole James take part in a political panel at the 2013 BMO Economic Outlook Forum in Vancouver, B.C. (Darryl Dyck/The Canadian Press) | 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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