CALGARY – Saskatchewan will be the only province in Canada to post real economic growth in 2009, according to a new report from the Canada West Foundation.
Against the Grain: Saskatchewan Economic Profile and Forecast, written by Canada West Foundation Senior Economist Jacques Marcil, forecasts that, while not immune to the global recession that has the rest of the country in decline, Saskatchewan will still see real GDP growth of 0.7% in 2009.
“The rest of Canada should get used to the idea of being led by such a low-key, unassuming champion as Saskatchewan,” says Marcil. “Job layoffs and uncertainty are spreading across the country, but the news is good in Saskatchewan.”
Key to Saskatchewan's fortunes is potash. While other commodity prices are falling, the price of potash is likely to remain high, not only bringing money to the provincial government but also driving job creation and investment in the province. The strong economic base provided by potash has contributed to Saskatchewan's largest population growth in 50 years.
“After 22 years of losing people to other provinces on a net basis, Saskatchewan is now attracting Canadians in search of prosperity,” says Marcil. “Some who left for other provinces, often Alberta, are coming home, and they're bringing others with them. In these difficult economic times, Saskatchewan is looking like a great place to be.”
Canada West Foundation is a leading source of strategic insight, conducting and communicating nonpartisan economic and public policy research of importance to the four western provinces and all Canadians.
To download a copy of
Against the Grain,
click here
For more information or to arrange an interview with the author:
Jamie Leong-Huxley
Communication Manager
Canada West Foundation
403-700-9535
communication@cwf.ca
