Ottawa, September 14, 2010
2010-082
The Department of Finance today posted more than 70 private sector economic forecasts used for fiscal planning over the past 16 years.
Since Budget 1994, the Department has used the average of private sector forecasts as the basis for fiscal planning.
This practice introduces an element of independence into the Government’s economic and fiscal forecast and is supported by the International Monetary Fund.
In producing its forecast for budget planning, the Department surveys about 15 private sector forecasters for their views on the main economic variables, such as gross domestic product, the unemployment rate and interest rates.
The historical survey data can be found at http://www.fin.gc.ca/pub/psf-psp/index-eng.asp.
For further information, media may contact:
Annette Robertson
Press Secretary
Office of the Minister of Finance
613-996-7861
Jack Aubry
Media Relations
Department of Finance
613-996-8080
