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Lacklustre economic growth expected in B.C. this year: report

Combination of local and global factors adds up to a forecast of 0.7% economic increase
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B.C.’s economy grew by just 0.9 per cent in 2023 and is forecast to grow only 0.7 per cent in 2024. THE CANADIAN PRESS/Adrian Wyld The mayor of Delta, B.C., calls the lack of communication from FortisBC “an egregious oversight” after the utility company failed to notify the public for more than four hours after a gas leak at a renewable gas plant. British Columbia’s provincial flag flies on a flagpole in Ottawa, Friday, July 3, 2020. THE CANADIAN PRESS/Adrian Wyld

A new report ahead of next week’s B.C. budget is forecasting slower economic growth for the province this year.

The Business Council of British Columbia says “lacklustre” growth globally, high interest rates and weak private-sector job and investment numbers all add up to “a drag on prosperity” in 2024.

The report says while large capital projects in the province “fuelled strong gains” in per-capita GDP, B.C.’s

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