Prairie provinces expected to lead in economic growth this year thanks to oil and gas

The Conference Board of Canada says the Prairie provinces will likely be the top economic performers this year – propelled by their oil and gas sectors.

The not-for-profit think tank forecasts in a new report that Saskatchewan will lead the country with real growth of 7.6 per cent while Alberta’s economy will expand by 4.9 per cent.

It says they will make the gains even as higher interest rates aimed at fighting inflation quell the country’s overall economic output.

The report also says even a modest crop year on the Prairies will be a vast improvement from the drought-stricken 2021.