International Monetary Fund predicts better-than-average performance from the Canadian economy this year
Despite continuous hammer blows from the global oil price crashes, the International Monetary Fund’s latest outlook for the Canadian economy is exceptionally positive compared to other forecasts, projecting a significant 1.7% growth rate for this year.
This is in stark contrast with figures from private economists cited by the federal government and the Organization for Economic Co-operation and Development, which predicted a modest 1.4% growth.
As reported by The Globe and Mail, these numbers put Canada’s performance in a better place than other Group of Seven countries like Japan, France, and Italy. The forecasts were included in a report to G20 officials and central bankers, who went for a two-day meeting last week in Shanghai to discuss growth policies for the global economy.
For 2017, the IMF anticipated 2.1% growth. While reasonably strong, this was actually a downgrade from the organization’s earlier prediction of 2.4%.
This is in stark contrast with figures from private economists cited by the federal government and the Organization for Economic Co-operation and Development, which predicted a modest 1.4% growth.
As reported by The Globe and Mail, these numbers put Canada’s performance in a better place than other Group of Seven countries like Japan, France, and Italy. The forecasts were included in a report to G20 officials and central bankers, who went for a two-day meeting last week in Shanghai to discuss growth policies for the global economy.
For 2017, the IMF anticipated 2.1% growth. While reasonably strong, this was actually a downgrade from the organization’s earlier prediction of 2.4%.
