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Flaherty happy with IMF report on Canada's economic state

OTTAWA, Ont. – Finance minister Jim Flaherty said he is happy with a report released by the International Monetary Fund, which predicts Canada will continue to lead the major advanced economies throughout the remainder of this year and in 2011.

Flaherty called the prediction “encouraging,” and said he hopes that leaders will build on work initially done at this summer’s G20 summit in Toronto when he meets with them in Washington this weekend.

The IMF said Canada’s economic recovery has slowed down, but will continue to be strong enough to outpace its G7 rivals.

The world lending agency added that Canada’s economy will continue to expand by 3.1 per cent this year, and 2.7 in 2011, which is slower than earlier predictions.

However, the figure still exceeds that of other G7 nations, including the United States. 

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