Economic recovery (Photo 184076937 © Jakub Jirsák | Dreamstime.com)
4.7 percent growth in 2021
Rebounding economic growth for B.C. predicted
Feb 26, 2021 | 1:50 PM
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The B.C. economy isn’t out of the pandemic woods yet, but the trail is getting a little wider headed into the rest of 2021.
The Economic Forecast Council (EFC) is predicting a slight rebound and moderate growth in 2021, with further expansion in 2022.
“Like all provinces, people in B.C. have weathered a year unlike any other. The pandemic has required significant changes to the way we conduct day-to-day business, and those changes have affected workers, businesses, households and the economy as a whole,” Selina Robinson, Minister of Finance said.
The EFC estimates B.C.’s real gross domestic product (GDP) declined by 5.1 per cent in 2020, due to COVID-19. The council predicts growth of 4.7 per cent in 2021 and 4.3 per cent in 2022.
