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Saskatchewan and Alberta are expected to be economic drivers for the country this year.
The Conference Board of Canada, an independent research organization, predicted Saskatchewan’s gross domestic product (GDP) will grow 7.9 per cent in 2022, thanks to oil, gas and other commodities including wheat.
“Saskatchewan’s economy had shrunk 0.3 per cent in 2021, almost entirely due to a devastating drought that limited output in the agricultural sector,” the Conference Board stated in a news release.
“The Conference Board of Canada anticipates a significant recovery in 2022 with GDP volumes to grow 7.9 per cent. Although agricultural yields will be below average, soaring wheat prices have led to an increase in seeded area on farms.”
Alberta’s GDP was predicted to grow 6.6 per cent. Both provinces are well ahead of the national GDP, which the Conference Board expected to grow by four per cent.
