GDP will be $22B lower annually due to slower growth: PBO

OTTAWA—Canada’s Parliamentary Budget Officer says nominal gross domestic product will be $22-billion lower annually than anticipated thanks to slower growth.

According to the PBO, the national economy will slow to 1.6 per cent growth in the second half of this year.

The PBO now says Ottawa has a 60 per cent probability of balancing the budget on target in the fiscal year 2015-16.

-With files from The Canadian Press