Benjamin Tal, deputy chief economist at CIBC World Markets Inc., explains that the federal government’s infrastructure spending program will boost the economy, if funds are allocated to create effective multipliers.
Survey of economists predicts lower growth and inflation
An IMF report cites weaker economic activity, concerns about China and weak oil prices as factors feeding increasing financial turbulence
The bank forecasts the Canadian economy to grow by about 2% this year
By 2020 the commodity sector may only account for only 40% of exports, down from 50% in 2014
Weak oil prices to weigh on Alberta, Saskatchewan and Newfoundland and Labrador
External and energy sector shocks are now having a clearer negative impact on advanced economy growth
Report states it will take more than 10 years to bring the budget into balance unless the federal government raises taxes or cuts spending
Oil prices will likely remain below US$50 a barrel until the end of 2017
Weakness in the resource sector tempers employment, confidence and household spending