Archived - International Monetary Fund Report Praises Canada's Approach of Investing in the Middle Class and the Economy

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May 31, 2017 – Ottawa, Ontario – Department of Finance Canada

The Government of Canada has an ambitious plan to make smart investments that will create jobs, build modern, resilient neighbourhoods and communities, grow our economy, and provide more opportunities for the middle class and those working hard to join it.

Finance Minister Bill Morneau today welcomed the Concluding Statement of the International Monetary Fund's (IMF) annual Article IV Mission to Canada, which supports the Government's inclusive growth policies.

The IMF supports the Government's approach of making smart, responsible investments in people, communities and the economy to create long-term growth that is shared by the middle class and those working hard to join it.

Today's IMF report notes that the Canadian economy's renewed momentum is supported by these investments, and that the proposed Canada Infrastructure Bank has the potential to be an important and effective instrument to support infrastructure investment and stronger, long-term growth.

Quote

"The Government of Canada is committed to building a strong middle class and growing the economy over the long term. It is clear that our approach is working. In the past year, more than a quarter million people have been hired and the unemployment rate has fallen 0.6 percentage points to its lowest point since the 2008 global financial crisis. This morning, data shows that economic growth in the first quarter was robust, which is boosting middle class confidence. I am proud of the international recognition that our approach is receiving, and would like to thank the IMF for their analysis today. I look forward to continuing our good work together in promoting inclusive growth, both in Canada and around the world."

- Bill Morneau, Minister of Finance

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