Immigration.ca - Canada Immigration News - December 2009
A new report is predicting Canada will emerge as a leader in economic recovery for 2010.
The report, compiled by the RBC, says that Canada, more than any other G7 nation, is poised for an economic recovery largely due to the government’s recent stimulus package.
“While challenges remain, a peak in stimulus and infrastructure spending across the federal, provincial and municipal governments, along with very low interest rates, should result in a sustained recovery,” said RBC economist Craig Wright, adding that the controversial price tag of the stimulus package is comparative with the government spending in the 1990s.
Experts, especially those within the Conservative Government, are touting the stimulus package as the answer to Canada’s economic recession, saying that the multi-billion dollar plan is “starting to gather speed now” as the infrastructure projects move from the planning stage into the execution phase.
Third-quarter statistics for this year do seem to illustrate that something is shifting economically, with an end to the recession in sight. However, the 0.4 percent growth falls short of the experts’ 1-2 percent predictions.
For next year, the RBC report forecasts a 3.9 percent increase in GDP as well as a 2.3 percent jump in consumer spending.
Source: Financial Post
