The following statement has been issued by B.C. Finance Minister Michael de Jong:
British Columbia’s Second Quarterly Report continues to forecast increased revenues and reduced debt, demonstrating that government’s ongoing fiscal prudence, economic diversification and debt reduction continue to have a positive impact on the provincial economy.
Following B.C.’s highly successful issue of a Masala bond into the Indian offshore rupee market in September, B.C.’s Finance Minister Michael de Jong was invited to open trading at the London Stock Exchange where the bond was listed.
Stronger than forecast economic growth of 3.3% in 2015 will give unionized employees throughout B.C.’s public sector a modest salary increase from the Economic Stability Dividend.
Foreign purchasers were involved in 3% of Metro Vancouver residential real estate transactions in October, a rate equal to the provincial average for that month, according to the latest real estate transaction data released by the Province.
B.C. is projected to outperform Canada with robust growth this year and ongoing modest growth thereafter, Finance Minister Michael de Jong said at the close of his annual meeting with the independent Economic Forecast Council.
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