Spring Budget: Canada Deficit and Canadian Dollars

spring budget: According to the update, Canada deficit is expected to hit 25.1 billion Canadian dollars , lower than the 29.4-billion-dollar federal deficit Finance Minister Bill Morneau projected in his spring budget, according to Xinhua China. In March, Morneau said that Canada books would be balanced by 2021-2022. Just days before Justin Trudeau marks his first anniversary in office as Canada 23rd prime minister, his Liberal government released a gloomy economic update that predicted a larger national deficit for 2016-17. Now, he predicted that the deficit will be 14.6 billion Canadian dollars by then. "Our economy is growing," Morneau told the House of Commons while unveiling his Fall Economic Statement. "Just not as fast as we would like." Trudeau government has committed to spending more on infrastructure projects. The government also planned to establish a Canada Investment Bank next year that will provide at least 35 billion Canadian dollars for large infrastructure projects with the hope of attracting four or five times that amount in private capital. From 2017 to 2028, 81.2 billion Canadian dollars will be allocated to such projects as public transit improvement, trade and transportation so as to facilitate exports. (news.financializer.com). As reported in the news.