Article content

Lower crude oil prices have sent Alberta’s economy into a tailspin this year to the point where the province won’t be able to avoid a recession, says a report released Thursday by the Conference Board of Canada.

In its spring provincial outlook, the conference board forecasts the province’s real gross domestic product will decline by 0.7 per cent this year — the worst performance in the country after nation-leading growth of 4.4 per cent in 2014.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Alberta can't avoid a recession this year, says Conference Board of Canada report Back to video

Proposed measures from the newly elected NDP government have not been included in the forecast, as details have not been announced.

“The new government is expected to usher in policy changes that could have significant ramifications for the provincial economy as Albertans continue to struggle with the impact of lower oil prices,” said the report.

It said that the provincial government over the past 10 years has derived on average 29 per cent of its revenues from the resource sector, notably in the form of oil and gas royalties. The government has said it will be conducting a review of that royalty structure.