Minister of Jobs, Innovation and Tourism Pat Bell issued the following statement Monday, Aug. 8 in response to the current global economic situation.
“Government is monitoring the current situation in the United States and Europe very carefully, as recent economic events in those regions are of concern,” Bell said.
“While British Columbia is not immune to economic events abroad, B.C. has weathered the recession of 2008/09 better than most other provinces in Canada.
This was due in large part the renewed competitiveness of the province that has existed since early last decade, as well as the large gains made in terms of diversification of our economy – in particular our efforts to identify new trade markets such as China and India.
“We expect this renewed competitiveness will keep B.C., in good stead going forward as the United States and other countries deal with their various balance sheet issues.
“While global issues can have an impact on our economy and we remain committed to the objective of a balanced budget in 2013/2014.
Our credit rating remains at AAA, economic growth has continued during this time and our debt continues to be at a manageable level.”