Part 2/13:
Speaking during the IMF and World Bank meetings in Washington, the finance minister underscored that this budget will aim to crowd in private capital by reducing bureaucratic red tape and encouraging investor confidence. The overarching goal: make Canada more competitive on the global stage.
Economists broadly expect the federal deficit to rise—Bloomberg surveys predict it could reach roughly 70 billion Canadian dollars (about 50 billion USD), or approximately 3% of GDP, with some analysts warning it might approach 100 billion CAD. Despite the increased borrowing, the government hopes to balance its operating budget by 2028 or 2029 and reduce the deficit-to-GDP ratio over time.