Prime Minister Mark Carney Says Canada’s Economy Is Expected to Grow and Deficit to Fall
The New York Times • • world
Key Points:
- Canadian Prime Minister Mark Carney's budget update revealed a smaller deficit than previously projected and forecasted economic growth despite challenges from U.S. tariffs under President Trump.
- The update came shortly after Carney secured a parliamentary majority for the Liberal Party, though no major policy shifts were indicated.
- The government aims to reduce economic reliance on the U.S. by expanding trade with other countries and reallocating spending towards military and infrastructure projects such as pipelines and nuclear reactors.
- Finance Minister François-Philippe Champagne highlighted the resilience of the Canadian economy amid global uncertainty, referring to a "new world order."
- Carney, formerly a central banker and investment executive, helped revive the Liberal Party's prospects by positioning it as a stable choice during ongoing trade tensions with the U.S.
