Archived - World Economic Forum Rates Canada’s Banking System World’s Soundest for Seventh Year in a Row
September 3, 2014 – Ottawa, Ontario – Department of Finance
Finance Minister Joe Oliver today welcomed the World Economic Forum rating of Canada’s banking system as the soundest in the world for the seventh year in a row in its annual Global Competitiveness Report—further bolstering Canada’s international economic success story.
- The Canadian economy has posted one of the strongest job creation records in the Group of Seven (G-7) over the recovery, with more than 1.1 million jobs created since July 2009.
- Real gross domestic product is significantly above pre-recession levels—the best performance in the G-7.
- Both the International Monetary Fund and the Organisation for Economic Co-operation and Development expect Canada to be among the strongest growing economies in the G-7 over this year and next.
- According to KPMG, total business tax costs in Canada are the lowest in the G-7 and 46% lower than those in the United States.
- In 2013, Canada leapt from sixth to second place in Bloomberg’s ranking of the most attractive destinations for business.
- Four credit rating agencies—Moody’s Investors Service, Fitch Ratings, Standard & Poor’s and DBRS—have reaffirmed their top ratings for Canada.
Melissa Lantsman
Director of Communications
Office of the Minister of Finance
613-996-7861
Stéphanie Rubec
Media Relations
Department of Finance
613-369-4000
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