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Canada's Morneau says fiscal measures critically important

Published 2016-02-23, 01:34 p/m
© Reuters. Canada's Morneau says fiscal measures critically important

OTTAWA, Feb 23 (Reuters) - Fiscal measures to boost economic
expansion are critical given the global low-growth environment,
Canada's finance minister said on Tuesday, the day after the
government warned it would run much bigger budget deficits than
previously anticipated.
Finance Minister Bill Morneau told the House of Commons
Standing Committee on Finance that the new Liberal government
intended to move forward on its election campaign promises to
stimulate the economy and that it wanted to make sure measures
had maximum economic impact.
Morneau also said the government was committed to balancing
the budget, though the time frame for that was not clear.
Morneau said on Monday the budget deficit in 2016-17 would
be C$18.4 billion ($13.35 billion), excluding spending plans
that will be revealed in the March budget. That is steeper than
the C$3.9 billion deficit the Liberals, who won an election in
October, had forecast in November.
($1 = 1.3780 Canadian dollars)

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