According to the International Monetary Fund’s latest economic outlook, Canada’s recovery is being held back by the current climate in Europe and elsewhere. They have predicted that Canada’s economy will grow by only 1.7 % considerably lower than the Bank of Canada’s estimate of 1.9 %. The IMF has also suggested that Canada’s economy will strengthen only by 2 % in 2013 which again contradicts BOC’s prediction of a 2.8 % expansion next year.
Despite these estimates, Canada is still leading the Group of Seven big industrial nations.
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