IMF is bullish on Canada’s growth for 2017
by The Canadian Press
The global economic agency revised its 2017 outlook for Canada following strong growth in the first quarter and indications of strong second-quarter activity, but the agency is not as rosy about 2018
OTTAWA—The International Monetary Fund expects Canada to lead the G7 for economic growth this year.
The IMF raised its outlook for Canada as part of its latest world economic outlook update.
It now expects the Canadian economy to grow by 2.5 per cent in 2017, up from its April projection of 1.9 per cent.
The IMF says it revised its 2017 outlook for Canada following strong growth in the first quarter and indications of “resilient second-quarter activity.”
However, it trimmed its outlook for Canada for 2018 to 1.9 per cent compared with its earlier forecast for 2.0 per cent.
The IMF says global economic growth is expected to be 3.5 per cent this year and 3.6 per cent in 2018, unchanged from the April forecast.
The International Monetary Fund is a global agency charged with defining international economic policy, facilitating trade and promoting financial sustainability.