Alberta is in for a rough year, according to Alberta Premier Jason Kenney.
On Wednesday, Kenney said the province has reasons to be hopeful but this pandemic and the economic implications will not just last a few weeks.
“It’s my duty as Premier to offer people a sense of hope, but it’s also my obligation to be realistic and honest,” Kenney said.
"I believe there are reasons for hope, strong reasons for hope, that we are going to come out of this stronger than ever. But this is going to take some time and I think Albertans need to start to wrap their heads around that."
RELATED: Province announces financial supports for Albertans
Kenney said scientists are projecting the viral infection in Alberta will peak about four or five weeks from now before hopefully starting to decline in intensity. He added social distancing measures are likely to be in place until the end of May.
“I can’t say that with absolute certainty. Let's hope we get some very lucky breaks. Let's hope that the aggressive social distancing measures we have (used) to date prove to be extraordinarily effective.”
But Kenney said to be realistic Albertans can expect COVID-19 to be a threat for at least two or three months.
“Unless and until a vaccine is developed, it will continue to pose a global threat and most projections I see are for a vaccine to be potentially available to people in 2021,” Kenney said.
COVID-19 UPDATE: Follow our COVID-19 special section for the latest news on the coronavirus pandemic, as well as resources, FAQs and more.
Kenney said COVID-19 will have an impact for the next three months and economists are projecting a sharp rebound in the global economy starting in June, based on pent up demand surging.
"However ... we have to layer overtop of that the collapse in energy prices. I have to be honest with people, I hope the Saudis and Russians come to their senses, and stop this war of attrition. But most projections are that they are locked into a price war that could go into 2021 and we have not yet seen oil prices bottom out.”
“We are in tough probably for the balance of 2020. We will get through it, but it's not going to be in a couple of weeks."
