Morneau Releases Canada Fiscal Update Friday Amid Oil Price Drop

Canadian Finance Minister Bill Morneau will detail the state of play of the federal government’s finances Friday, amid worries about falling oil prices.

The update won’t include the cost of new measures promised by the Liberal Party in the election campaign, according to an advisory on the finance department’s website.

The world’s 11th largest economy shrank in the first half of the year as crude oil prices dropped below $50 a barrel and manufacturers struggled to rebuild U.S. orders even with the aid of a falling currency. The Parliamentary Budget Officer cut its 2015 growth forecast to 1.1 percent on Nov. 10 and projected additional deficits of C$13 billion ($9.8 billion) over three years in addition to the Liberal Party’s plan for C$25 billion of deficits.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE