Canada’s Economic Fundamentals are Strong

“Canada’s economic fundamentals are strong and our international commitments are on track in terms of reducing our deficits and returning to fiscal balance in the medium term,” said Minister Menzies. “Internationally, Canada has been a central player in promoting strong, sustainable and balanced global growth among its G-20 partners.”

In his speech, Minister Menzies outlined the actions Canada has taken as part of the G-20 to implement financial sector reforms, achieve fiscal consolidation and strengthen the international financial architecture. These actions have resulted in the creation of over 750,000 net new jobs since 2009 and Canada achieving one of the strongest economic performances among G-7 countries in recent years.

He also highlighted Canada’s leadership in preparing an action plan to promote growth and job creation for the G-20 Leaders’ Summit in Los Cabos, Mexico, next month. Canada co-chairs the G-20 Framework Working Group for Strong, Sustainable and Balanced Growth, which was created following the 2008 global crisis to help guide the global economy through the recovery process and toward stronger growth.

“Canada continues to play an increasingly influential role in the global economy and has much to offer in the global effort to secure economic stability,” said Minister Menzies. “Our Government’s success is largely due to our steady and measured fiscal discipline and decisive action, which we hope serves as an example for other countries.”

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