The Canadian government will unveil a budget update widely expected to show shrinking short-term deficits, as Finance Minister Bill Morneau looks to turn the page on questions about his own finances.
Morneau will deliver his Fall Economic Statement at about 4 p.m. Tuesday in Ottawa. The midyear update to the March budget will reflect the improving picture for government finances, driven by surprisingly strong growth. Over the past four quarters, the economy expanded by an average 3.7 percent, the best performance in a decade.
That will have an impact on the government’s bottom line. The budget forecast a shortfall of $28.5 billion for 2017-18. CIBC World Markets Deputy Chief Economist Benjamin Tal expects it instead to come in between $15 billion and $16 billion, including the so-called budgeted risk adjustment.
Read more at Financial Post
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