Economic Forecast Council definition

Economic Forecast Council means the Economic Forecast Council appointed under s. 4 of the Budget Transparency and Accountability Act, [S.B.C. 2000] c. 23;
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Economic Forecast Council means the Economic Forecast Council appointed under s. 4 of the
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Economic Forecast Council means the Economic Forecast Council appointed under s. 4 of the Budget Transparency and Accountability Act, [S.B.C.2000]c.23;
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Examples of Economic Forecast Council in a sentence

  • This economic weakness will likely continue well into next year.• The Economic Forecast Council was surveyed in July to provide a current benchmark for the BC outlook.

  • A critical factor in the ministry’s ability to achieve its goals and objectives is the state of the province’s economy.The BC economy grew 3.9 per cent in 2004, faster than the 2.9 per cent forecast at the time of last year’s budget by the province’s independent Economic Forecast Council.

  • In Budget 2009, B.C.’s Economic Forecast Council projected that B.C.’s annual real GDP will be 0 per cent, or no growth, in 2009, and then grow by 2.8 per cent in 2010.

  • Additional risks include a fluctuating Canadian dollar and continued volatility in global financial and commodity markets.BC Outlook — Economic Forecast Council ProjectionsChart 2.1 Economic Forecast Council downgrades BC forecastBC real GDP (annual per cent change)Sources: Ministry of Finance and Economic Forecast CouncilIn preparation for Budget 2013, the Minister of Finance met with members of the independent Economic Forecast Council in November 2012 to obtain their views on the economic outlook.

  • The Economic Forecast Council expects strong growth and job creation to continue for at least the next two years.

  • The process has allowed the public to compare the ministry’s economic forecast to the benchmark provided by the Economic Forecast Council members.

  • In the Ministry of Finance’s September Budget Update economic forecast, BC real GDP was expected to grow by 3.4 per cent in 2005 and 3.2 per cent in 2006.Chart 2.1 Private sector upgrades BC forecastSources: BC Ministry of Finance and seven private sector forecastersIn preparation for the 2006 budget, the Minister of Finance will be meeting with the independent Economic Forecast Council on December 5, 2005 to obtain their views on the North American and British Columbia economic outlook.

  • This latitude and the breadth of agreement types serve to broaden the definition of reconciliation beyond rights and title and to reinforce the understanding that there are many paths to reconciliation.Economic ContextThe Economic Forecast Council estimates that British Columbia’s real GDP grew by 2.2 per cent in 2011 and projects that the rate of real GDP growth will remain at 2.2 per cent in 2012, before increasing to 2.5 per cent in 2013.

  • Section 7 (1) (c) of the Act requires disclosure of the advice received from the Economic Forecast Council including the range of economic forecasts for the calendar year in which the Estimates are presented.

  • The Budget Transparency and Accountability Act, section 4 continues the Economic Forecast Council, with the Council to be composed of at least 12 qualified persons.

Related to Economic Forecast Council

  • Forecast GDP means the average forecast for British Columbia’s real GDP growth made by the Economic Forecast Council and as reported in the annual February budget of the government;

  • EU GDPR means the General Data Protection Regulation ((EU) 2016/679).

  • municipal spatial development framework means a municipal spatial development framework adopted by the Municipality in terms of Chapter 5 of the Municipal Systems Act;

  • Academy Financial Year means the academic year from 1st of September to 31st of August in any year;

  • GDPR means the Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation).

  • Budget means a resource, expressed in financial terms, proposed by the Board for the purpose of carrying out, for a specific period, any or all of the functions of the Trust.

  • GDP or “Gross Domestic Product” for the purposes of this LOA means the expenditure side value of all goods and services produced in British Columbia for a given year as stated in the BC Economic Accounts;

  • Gas Year means the period of 365 or 366 Gas Days, as the case may be, beginning at October 1st at 06:00 hours (Belgian time) and ending at September 30th 06:00 hours (Belgian time) of the next year.