This annual economic forecast presents the long-term provincial outlook.
Provincial Outlook Long-Term Economic Forecast: 2016
Provincial Outlook Long-Term Economic Forecast: 2016
Provincial Economic Analysis
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- The economies of the Atlantic provinces and Quebec are already challenged by a constrained labour force.
- Despite a weakened energy sector, long-term economic prospects are positive for Alberta as oil prices are expected to pick up in the next decade.
- British Columbia, Ontario, and Alberta will post the strongest economic growth over the long term with real GDP growth averaging around 2 per cent per year from 2016 to 2035.
- Solid international migration and a dollar below parity will help boost prospects for Ontario’s economy over the forecast period.
- As most provinces are still facing fiscal budget deficits, long-term fiscal balance will require swift spending control and may be difficult to maintain.
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