Archived - Moody’s Maintains Canada’s AAA Credit Rating
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Positive assessment reflects effectiveness of Economic Action Plan in supporting jobs and growth
October 20, 2014 – Ottawa – Department of Finance
Finance Minister Joe Oliver today welcomed the release of Moody’s Investors Service’s latest annual Credit Analysis Report for Canada. The report concluded, “Canada’s AAA rating and stable outlook continue to be supported by the country’s relatively solid economic performance, favorable trends in federal government finance and debt levels, and strong institutional and regulatory framework.”
- For the seventh year in a row, the World Economic Forum rated Canada’s banking system as the world’s soundest.
- Since the Economic Action Plan was introduced to respond to the global recession, Canada has recovered both more than all of the output and all of the jobs lost during the recession.
- The Canadian economy has posted one of the strongest job creation records in the G-7 over the recovery, with nearly 1.2 million jobs created since July 2009.
- Over 80% of all jobs created since July 2009 are full-time positions, nearly 80% are in the private sector and over 65% are in high-wage industries.
- Real gross domestic product is now significantly above pre-recession levels—the best performance in the G-7.
- In 2013, Canada leapt from sixth to second place in Bloomberg’s ranking of the most attractive destinations for business—ahead of all other G-20 countries in the ranking.
“Moody’s latest report once again offers independent expert analysis of the strength and stability of Canada’s economic and fiscal environment. With a solid foundation and a return to balanced budgets in 2015, our Economic Action Plan will keep taxes low for Canadians while supporting the fundamental drivers of job creation and economic growth.”
– Joe Oliver, Minister of Finance
Office of the Minister of Finance
Department of Finance