British Columbia's economy is expected to grow modestly this year and next year, according to updated projections by the B.C. Economic Forecast Council, Finance Minister Kevin Falcon said.
The council expects B.C.'s economy to post 2.2 per cent growth in 2012, the same rate it predicted two months ago at its annual meeting. The council slightly reduced its 2013 forecast to 2.5 per cent, down from 2.6 per cent. The forecast average for the 2014-16 period remains the same at 2.7 per cent.
The 14-member Economic Forecast Council presents forecasts for B.C.'s economic growth as part of the Province's annual budget process. It includes some of the most respected independent economic forecasters in Canada.
The council members are surveyed twice a year - once in the fall and then again the following January - to advise the Finance Minister prior to each year's budget. Government will release its own economic forecast with Budget 2012.
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