BC Finance Minister Selina Robinson provided an economic update earlier today, revealing that the Province has optimistic fiscal forecasts.
These forecasts came from the first quarterly report of the 2022-23 fiscal year, which covers the first three months of said fiscal year.
The most recent report shows not only the results of the three months, but it also showed that improvements are expected to be made in all three years of BC’s current fiscal plan.
However, the report also noted that BC is forecasting an operating surplus of $706 million for this fiscal year and smaller projected deficits in the next two years.
BC’s economy is expected to grow next year, however concerns regarding global inflation, rising interest rates across Canada, the war in Ukraine and uncertainty regarding the evolution of the pandemic still remain.
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