Canada’s growth prospects appear bleaker than they did at the start of 2019, according to a new report by the International Monetary Fund.
Canada is not alone in the expected slowdown. In fact, the IMF cut its overall global growth forecast to 3.3 per cent for 2019, down from its prediction of 3.5 per cent in January and a dip from global growth of 3.6 per cent in 2018. Global growth peaked at about 4 per cent in 2017. “A further escalation of trade tensions and the associated increases in policy uncertainty could further weaken growth,” the report stated. “The potential remains for sharp deterioration in market sentiment.”
“Trade diversion leads to substitution of China’s exports to the United States: Mexico and Canada benefit most, reflecting their close proximity to, and strong trade relations with, the United States,” the IMF said.
Any Canadians with brains did that months ago under our Sunny Ways leader the Crime Minister...not so honourable Trudeau
According to IMF’s report, Canada’s economy only grew by 1.8% in 2018, 3% in 2017 and 1.1% in 2016. Looking further ahead, the IMF forecasted 1.9% growth for the Canadian economy in 2020 and 1.6 per cent growth in 2024. What is Trudeaus plan for economy? He's focused on carbon!
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