Surprise Resurgence: Canadian Economy and Medium Term

surprise resurgence: By 2040-41, the federal debt would top out at around 1.08 trillion before starting to fall, as compared to last year's prediction that it would reach 1.55 trillion by 2050-51, according to National Observer. The improvement is attributed to an overall boost in the fiscal outlook, particularly in the medium term, which comes after the Canadian economy mounted a surprise resurgence over the past 12 months. If such a scenario played out, the deficit would reach an annual high of 24.8 billion around 2030-31 before beginning to fall. While long-term predictions contain considerable uncertainty, Finance Minister Bill Morneau nonetheless said the projections prove the Liberal government's plan is bearing fruit. Our plan is working. We have an ambitious plan to grow Canada's economy by investing in people, growing the middle class and helping those working hard to join it, Morneau said in a statement Friday. (www.immigrantscanada.com). As reported in the news.