Saskatchewan’s economy is likely to post one of the strongest growth records in the country this year. That comes from the latest provincial forecast issued by the Conference Board.
There was a time when Saskatchewan was always a leader in economic growth. But it lost that title when commodity prices began to soften in late 2014. Fast forward half a dozen years and we appear to be back at the top with commodity prices largest responsible for our status.
The Conference Board says we will have one of the strongest growth rates in the country this year at more than 6 percent. Plus we can expect another 4 percent next year which more than offsets the sharp decline we saw through the pandemic year of 2020. Last year saw a pull-back of 6 points which is followed by a sharp recovery expected to reach almost 11-percent over this year and next.
The forecast suggests strong agricultural prices will trigger a buoyancy that will lead to job creation and spark another round of capital investment, the primary driver of SaskaBoom 1.0 a decade ago.
