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Medium Term: Finance Officials and Canadian Economy

medium term: If such a scenario played out, the deficit would reach an annual high of 24.8 billion around 2030-31 before beginning to fall, according to CTV. 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. Finance officials predicted in a report released Friday that barring any policy changes, the federal government could be on track to run annual shortfalls until 2045-46, compared to projections last year that deficits would run to 2050-51. 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. 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. While long-term predictions contain considerable uncertainty, Finance Minister Bill Morneau nonetheless said the projections prove the Liberal government's plan is bearing fruit. ( As reported in the news.