OTTAWA (Reuters) – The Canadian government will release its annual fall economic statement (FES) on Nov. 21, the finance ministry said on Thursday.
The FES will provide information on the state of the Canadian economy and update on the government’s economic plan to help create jobs, build more homes and make life more affordable, the ministry said in a statement.
The mid-fiscal year update will come as Prime Minister Justin Trudeau’s government is trying to fight an affordability crisis that has put a huge dent in his support, according to polls.
Finance Minister Chrystia Freeland has said there will be relief measures for Canadians most susceptible to the high cost of living while being fiscally responsible as interest rates – now at 22-year highs – increase debt servicing costs.
The Bank of Canada has pumped its key policy rate to 5.00% to cool inflation, and it expects economic growth to be muted until end-2024. The bank expects inflation to stay above its 2% target until the end of 2025.
(Reporting by Ismail Shakil in Ottawa; Editing by Mark Porter and Andrea Ricci)
