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Canada to stick to deficit reduction plan

Canada to stick to deficit reduction plan

Canada's finance minister says the government will stick to its plan to reduce the deficit by 2015 and won't spend money to stimulate the economy.
Finance Minister Jim Flaherty told an emergency meeting of Parliament's finance committee on Friday that more government spending is the precisely the wrong thing to do. He pointed to Europe where he says too much government spending is the problem.
There are also concerns that the slumping American economy will squeeze the Canadian economy and undermine the government's deficit-fighting plan.
Canada is wrapping its stimulus plan it enacted during the crisis in 2009. Flaherty noted that the IMF and OECD are forecasting that Canada's economy will be among the strongest in the G-7 countries this year and next.


Updated : 2021-10-22 17:10 GMT+08:00