FINANCE MINISTER REFUSING TO USE THE ''R'' WORD

Jun 02, 2015

By Bob Komsic

Share on

Joe Oliver says he won’t talk about the prospect of a recession because he fully expects the Canadian economy will rebound in the second quarter or three months from April to June.

The federal finance ministers’ testimony Tuesday at a Senate committee comes less than a week after data showed the economy contracted by 0.6 % at an annualized rate in the first three months of the year.

Oliver’s expecting a bounce back as the Bank of Canada, International Monetary Fund and private-sector experts have all projected.

He says the government is still predicting a $1.4-billion surplus for 2015-16 despite the weaker-than-expected first quarters.

A recession’s typically defined as two or more consecutive quarters of negative growth.

Join Our Fan Club
Coverage Area
Downtown Toronto
96.7FM
Toronto HD
96.3 HD-2
Kingston to Windsor, Parry Sound to Pittsburgh
AM740
ZoomerRadio Logo

Recently Played: