Canadian government downgrades its growth and fiscal forecasts

Market news

23 November 2015

Canadian government downgrades its growth and fiscal forecasts

The Canadian government downgraded its growth and fiscal forecasts. The downward revision was driven by a slower-than-expected recovery for the Canadian economy. Low oil prices weigh on the economy in Canada.

The government expects the economy to expand 1.2% in 2015 and 2% in 2016.

The budget deficit is expected to be C$3 billion this year, and C$3.9 billion in 2016-2017.

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