Canada's western provinces will remain one of the most economically stable markets for investments, according to economist Warren Jestin at a City of Richmond event.
But, continued turmoil in the global economy still means all levels of government need to watch spending while ensuring community needs are met, said Mayor Malcolm Brodie.
The city continues to focus on new growth that enhances its sustainability, working to attract new economic development and build tourism.
The city and Scotiabank hosted the Global Economic and Market Outlook presentation on Monday, attended by more than 60 Richmond business leaders.
Jestin, Soctiabank's chief economist and vice president, gave his projections for global, national, and regional economic trends for the coming year. He saw slow-paced recovery and further turbulence in the global economy, due to recession in Europe, slow growth in the U.S., and a slowdown in emerging international markets such as China and India.
Jestin's forecast means interest rates will remain low and the U.S. exchange rate will continue to be volatile.
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