BC Financial Statement

British Columbia’s economy is forecast to grow one per cent in 2023. The finance ministry’s second quarterly report also forecasts slower economic growth for next year of 0.7 per cent. But the budget’s September deficit forecast of 6.7-billion-dollars has improved by more than a-billion-dollars, with this year’s deficit now projected at 5.6-billion. The ministry says in a statement the province’s economy is being impacted by slow growth globally and high interest rates in Canada.