Deputy Prime Minister and Minister of Finance discusses economic outlook with chief economists

Readout

October 31, 2022 - Ottawa, Ontario - Department of Finance Canada

Today, the Honourable Chrystia Freeland, Deputy Prime Minister and Minister of Finance, met with chief economists from major Canadian financial institutions to discuss their outlook on the Canadian and global economies and to hear their views on the government’s ongoing work to build an economy that works for everyone.

The Deputy Prime Minister noted that while the global economy is facing prospects of slower growth next year, Canada’s economy has proven resilient and strongly recovered from the pandemic. Today, there are about 400,000 more Canadians working than before the pandemic, and Canada’s economic growth has been the strongest in the G7 this year. In addition, the IMF forecasts that Canada’s net debt- and deficit-to-GDP ratios are and will remain the lowest in the G7 over the coming years.

Thanks to that strong economic performance, the government has been able to provide targeted cost of living support to the most vulnerable Canadians while shrinking the deficit.

The Deputy Prime Minister and chief economists agreed on the need for further investments in economic growth, innovation, productivity, and the green transition to ensure Canada’s economy continues to create good-paying jobs and prosperity for Canadians.

Ahead of the 2022 Fall Economic Statement, the Deputy Prime Minister reaffirmed the government’s commitment to careful and prudent fiscal management.

Contacts

Media may contact:

Adrienne Vaupshas
Press Secretary
Office of the Deputy Prime Minister and Minister of Finance
Adrienne.Vaupshas@fin.gc.ca

Media Relations
Department of Finance Canada
mediare@fin.gc.ca
613-369-4000

General enquiries

Phone: 1-833-712-2292
TTY: 613-369-3230
financepublic-financepublique@fin.gc.ca

Page details

Date modified: