As we approach the end of the year, economists are now able to forecast out into 2019 with projections of how Saskatchewan’s marketplace will perform.
BMO says this year will yield growth of 1.7 per cent, next year should bring a further 2.0 per cent and 2019 will generate a third year of expansion at 1.7 per cent. This comes on the heels of a one point contraction last year.
The trend is becoming quite consistent….slow and steady expansion.
BMO is also the only bank that includes public sector debt in its forecasting. And while Brad Wall has been given a hard time for his stance on balancing the books, we are still losing ground.
Saskatchewan’s debt is projected to be 15.2 percent of GDP. That is second-best in the nation behind Alberta and compares favorably to Ontario at 37.5 percent and Quebec at 46. Even Manitoba has a considerably higher rate at 35 percent compared to 15 percent of GDP here.