Economist predicts Alberta recovery to start in late 2017

Alberta’s economy is in a recession but there is optimism that the worst will be behind us in a year from now, Todd Hirsh, ATB Financial’s chief economist, said in his economic forecast at Tofield’s Community Hall Feb. 4.

The odds of a modest increase in the price of oil to around $50/barrel will fuel that tentative recovery, he said.

And he predicted the pain being suffered now would lead to greater diversification of the economy by 2017. Unemployment is also predicted to go up to eight per cent but hold there.

Hirsh believes 2016 will be “a pivotal year.” And, although these are “dark days now,” he believes …

For more see the Feb. 9/16 Mercury