IMF Predicts Canada to Outpace the Rest of G7
Area Development Research Desk (Location Canada 2009)
Canada is on track to lead the world's wealthiest countries out of recession next year, a testament to sound economic policy and weak competition, according to the International Monetary Fund's latest World Economic Outlook report. Also in the biannual report: globally, gross domestic product (GDP) is expected to expand 3.1 percent in 2010, compared with its earlier growth estimate of 2.5 percent. The IMF report reinforces Prime Minister Stephen Harper's claim that sound Canadian policies have ensured that the country's economy could weather the financial crisis better than most. Going into the crisis, Canada enjoyed a strong fiscal picture, with successive federal budget surpluses, and lower debt levels than many other nations.