CANADIAN IMMIGRATION NEWS

Canadian economy in recovery mode

Friday, 26 June 2009

Canadian Prime Minister Stephen Harper recently announced that the country's economy is on the road to recovery, boosted by the federal stimulus spending which he said is 80 percent in place, and the approval of 3,000 projects designed to boost the economy.

Harper said "In just 72 days, our government has 80 percent of the largest economic recovery program in Canadian history underway... In every region of Canada, families and businesses are paying less tax, unemployed workers are receiving enhanced benefits and training, and major job-creating projects are breaking ground."

The prime minister added, "Our absolute priority as a government is to continue doing everything we can to deliver timely, targeted and affordable support to the Canadian workers, families and businesses who need it most."

But even as Bank of Canada Governor Mark Carney told markets not to overplay the "green shoots" of economic recovery that are starting to emerge, both he and Prime Minister Stephen Harper insisted that Canada remains in a healthy position compared to other industrialized nations.

"Our starting point is stronger than basically any other industrialized country," Carney told a news conference in Montreal.

Canada went into the world economic recession with the only budget surplus in the Group of Seven big industrialized countries, along with a still growing economy and healthy, well-capitalized banks.

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