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Saskatchewan’s economy is set to rebound slightly in 2017.
That’s according to the Conference Board of Canada, whose members were on hand for the Saskatchewan Economic Summit on Monday.
Economist Pedro Antunes believes Saskatchewan’s resource-based economy suffered a loss of about two per cent in 2016.
Antunes said it’s set for a rebound in 2017.
“It doesn’t mean that the economy will be booming like it did when oil prices were $95 per barrel,” Antunes said. “But it does mean that we’re going to see a reinvestment in the resource sector, in the oil and gas sector in particular, that we are going to see production up.”
Antunes also said board members believe they have seen a peak for unemployment, adding early 2017 numbers indicate positives.
“We’re going to see a period over the next two years of fairly soft economic growth, but growth nonetheless.”
He said the recent budget is a positive way towards getting the province’s fiscal situation into better shape.
He noted the budget will cause after-tax income to be a little slim in the next few years, adding they are not expecting to see very strong consumer spending.
