Worst may be over for Alberta economy, modest growth ahead, report says
by The Canadian Press
Conference Board of Canada expects the province to emerge from one of its worst-ever recessions in 2017
A tough crude climate has continually hammered Alberta’s economy since oil prices crash more than two years ago
CALGARY—The Conference Board of Canada says it expects Alberta to emerge from one of the worst recessions to ever hit the province next year.
However, the independent research organization is forecasting only modest economic recovery in 2017.
The board says Alberta should see real gross domestic product growth of about 2.2 per cent.
Part of that growth will be fuelled by rebuilding in the wake of the Fort McMurray wildfires last May.
Marie-Christine Bernard, an associate director with the board, says recent stability in oil prices is forecast to set the pace for a recovery over the next few years.
She says the recent election in the United States also offers hope for getting more Canadian crude to markets.
“It appears that the worst may be over for Alberta, but the road to recovery won’t be easy,” Bernard said in a Dec. 8 release.
