Canada is ‘Very Close’ to Eliminating Budget Gap

Canadian Finance Minister Joe Oliver said his government is getting “very close” to eliminating its deficit and is preparing to give a budget update that will stress fiscal prudence.

The budget update will send the message that Canada is “in good shape, relatively,” Oliver said in an interview with Erik Schatzker at the Bloomberg Canadian Fixed Income conference in New York today, adding the update usually comes in late October or early November.

“We’d like to grow faster,” he said. “We’re going to focus on creating more jobs, but the international financial environment is fragile. There are risks, particularly outside North America, and we have to remain fiscally responsible.”


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