New Brunswick is experiencing its fastest population growth rate since 1976. Earlier this year, total population reached 800,000.
The construction and education sectors will experience the strongest employment growth. However, challenges including labour shortages and an aging population still hinder growth potential.
Long-term partnerships with Indigenous communities and businesses can address some of the province’s ongoing challenges, including labour shortages.
Tourism activity, especially cruise-related, will be strong this season even with high gas prices curtailing these activities to an extent.
The province’s net debt-to-GDP is expected to continue declining over the next fiscal years.
After rising by 5.2 per cent in 2021, real GDP will grow by 2.3 per cent in 2022, and 1.3 per cent in both 2023 and 2024.
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