Canada reasserts balanced budget by 2014

20:16, August 04, 2010      

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Canada's Treasury Board Minister Stockwell Day Tuesday reasserted the country's aim to hit the balanced budget by the year 2014.

Day said at a press conference held at the National Press Theatre that Canada is very pleased with the external evaluation of its economy from sources as varied as International Monetary Fund, the OECD, and the World Economic Forum.

"All of these agencies, in reporting about economies in developed nations coming through this downturn, place Canada in a very enviable position and we see that reflected in our job numbers," he said.

Day said that the new job numbers continue to go beyond the predictions of economic forecasters, giving a reassurance of Canada having strength in its economy.

However, Day also stated that there is still a concern about the global recovery where the fragility still somewhat exists.

In regards to Canada's economic action plan, Day said that Canada maintains its plan to hit a balanced budget by that year 2014.

"We will not be easing off on our plans for fiscal restraint," he said. "The plan to freeze all government operational spending at levels of the 2010 budget for the next three years will continue to be in place."

He clearly expressed that this is the final year of the economic stimulus package.

Day's remarks also included the reason for having an increased investment in Canada, both domestically and internationally.

Source: Xinhua


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