The newest forecast by the Conference Board of Canada (CBOC) has Saskatchewan leading the country in economic growth in 2011 and 2012.
In its analysis of economic growth prospects, the organization's Provincial Outlook Executive Summary - Winter 2011 expects that Saskatchewan will be "leading the way" in the coming year by posting the strongest economic growth in Canada - a gain of 3.9 per cent in real Gross Domestic Product (GDP)."Tax reductions, debt retirement and record infrastructure have made Saskatchewan a world leader for investment and economic opportunity," Enterprise Minister and Minister responsible for Trade Jeremy Harrison said. "This is the message we've been taking across Canada and internationally - there is a real advantage that exists for investors in this province. It exists in the form of an opportunity-rich economy which welcomes businesses ready to build on it and add to it."
Higher commodity prices, continued population growth, gains in the energy sector, a significant rebound in agriculture and increased activity in resource development are key factors cited in the CBOC report, providing the basis for even stronger growth (4.5 per cent in real GDP) anticipated in 2012. Non-residential investment spending is a major element as well, driven by billions of dollars in expansion projects currently underway in the potash industry.
