Finance Minister Jim Flaherty yesterday said that the Canadian economy is in good shape and can withstand a deeper U.S. slowdown with only a minor impact on growth.
In an interview with Reuters TV, he said the economy may grow at a 1.6 per cent rate this year instead of 1.7 per cent as previously projected.
But he added that “we are in the right area for our growth, we have low interest rates and relatively low inflation. The fundamentals are fine, they have not changed.”