OTTAWA — Canada’s finance minister confirmed last week she will table this year’s budget on March 28, coming on the heels of concerns by economists that the country might enter a recession.
Chrystia Freeland made the announcement during a press conference in Mississauga, Ont., last week.
She told reporters the Trudeau government is focused on fiscal responsibility and restraint, and not pouring “fuel on the flames of inflation.”
“I’m very conscious we’re putting this budget together at a time of meaningful fiscal constraint,” said Freeland.
Experts predict Canada’s economy to slow significantly in 2023, possibly entering a recession due to high interest rates, which the Bank of Canada skyrocketed over the last year to 4.5 per cent, the highest it’s been since 2007.
The Liberals have also faced mounting pressure from economists to rein in significant spending that has only added to the country’s pre-existing debt.