Finance minister says Canada will run deficits until at least 2015, 2 years longer than seen
By APThursday, September 10, 2009
Canada to run deficit until at least 2015
VICTORIA, British Columbia — Canada’s finance minister says the government will run deficits for two years longer than originally forecast, and the country will be in the red at least until 2015.
Finance Minister Jim Flaherty says the deficit for this year will be over $4.6 billion more than originally thought, moving up to a projected $51.9 billion from $46.5 billion
Flaherty told an audience in Victoria on Thursday that Canada is showing signs of a fragile economic recovery, but returning to balanced budgets will not be easy.
Flaherty says now is not the time for an election.
Parliament resumes Monday and the opposition Liberals have vowed to oust Prime Minister Stephen Harper’s Conservatives at the first opportunity.
