REGINA – Saskatchewan’s economy is expected to avoid a recession this year, instead growing a “modest” 0.8 per cent, according to a new report by the Conference Board of Canada.
The dip in crude oil prices is one of the main blows to the economy. Potash production, metal mining (including uranium), and construction projects will help carry the burden, she said.
“The supply glut will ease, and we will see stronger demand for oil so prices will gradually recover, and that will help Alberta, Saskatchewan, and other provinces that depend on oil,” said Bernard over Skype in Ottawa.
Agriculture sector growth has stagnated, but she expects “small positive growth” in the future, she added.
The non-profit pegged the province’s economy to grow by 1.7 per cent in 2016.
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