One bank is predicting further hardships for Alberta even as the economy recovers.
According to a report from RBC today the country’s GDP is projected to grow by 1.7 per cent this year, higher than last year’s 1.2 per cent, but the low oil prices will continue to affect oil producing provinces.
The report says energy companies’ pull-back of investment and the low dollar will continue to hurt Alberta.
On the positive side, the report says the low Canadian dollar boosted exports in late 2015 and that trend will continue with the weakened dollar and American demand.
The report says an expected oil recovery in the latter half of this year will then help boost the dollar.