In its Global Economics Outlook Scotiabank says Saskatchewan has regained all of its 1.5 per cent two-year economic falloff.
Anchoring the recovery was an unexpectedly large rebound in energy sector investment, concentrated in supporting infrastructure and conventional oil and gas. Scotiabank says an extended mining sector recovery is expected to leave more balanced regional population growth intact for the rest of the decade. The net outflow of residents from Alberta and Saskatchewan to other provinces that exceeded 23,000 in 2016 is receding. The outlook sees real GDP growth in Saskatchewan of 2.1 per cent this year and 1.7 next year. The province's budget deficit should ring in at $1.354 billion for 2017, and is expected to hit $679 million in 2018.