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Canadian Prime Minister Justin Trudeau and Finance Minister Chrystia Freeland will make an announcement and hold a media availability in the Greater Toronto Area on Friday, a day after the government delivered the 2022 Fall Economic Statement.

Canada is ready to weather the harsh winter winds cooling the global economy, despite being set for “significantly weaker growth,” according to the economic statement.

Freeland delivered the fiscal update in the House of Commons on Thursday, which contained a few targeted measures such as boosts for low-wage workers and student loan interest relief to support Canadians struggling with inflation and interest rates.

It is that very risk of stubborn and prolonged inflation — and the monetary tightening needed to stamp it out — that informs Ottawa’s fiscal path.

The Trudeau government's fiscal update included a focus on driving investment in Canada's clean energy industries in response to new American tax incentives signed into law in August in the Inflation Reduction Act.

The update included announcing the elimination of the federal portion of interest on student loans, effective April 1, 2023, the day after the current freeze on interest expires.

For more info, please go to https://globalnews.ca/news/9244708/canada-fall-economic-statement-2022-recession-chrystia-freeland/

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Category
U.S. & Canada
Tags
justin trudeau, recession, canada recession
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