Canada’s New Approach to Economic Growth Receives International Recognition
June 13, 2016 – Montréal, Quebec – Department of Finance Canada
Canada is getting noticed for its ambitious plan to revitalize the economy through smart, necessary investments for long-term economic growth—a plan that strengthens the middle class and helps those working hard to join it. This plan to grow the economy is gaining international recognition and strengthening Canada’s presence on the world stage.
Finance Minister Bill Morneau today joined the Secretary-General of the Organisation for Economic Co-operation and Development (OECD), Angel Gurría, at the 22nd Conference of Montreal, for the release of the OECD’s Economic Survey of Canada. The survey affirms the growing consensus in Canada and around the world that governments need to invest to support economic growth in the near term and set the stage for long-term prosperity.
Canada’s plan focuses on creating better jobs, promoting a cleaner environment and building more liveable communities through investments in people and the economy. Through cooperation with international partners, this people-centred approach will lead to stronger global growth, greater equality and shared prosperity.
The OECD survey echoes the final report of the International Monetary Fund’s (IMF) annual Article IV Mission to Canada, which was also released today. In that report, the IMF confirms that Canada’s “pro-growth 2016 budget is appropriate,” and highlights “the federal government’s commitment to putting the debt-to-GDP [gross domestic product] ratio on a downward path.”
“Canada’s economic approach is based on the principle that when you have an economy that works for the middle class, you have a country that works for everyone. I am tremendously proud of the path our government is on, and that our new approach is being recognized at home and abroad. I thank both the OECD and the IMF for their analysis and feedback today, and look forward to working with the international community towards creating growth that benefits the middle class here at home and around the world.”
- Bill Morneau, Minister of Finance
Office of the Minister of Finance
Department of Finance Canada