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Ailing Canada Economy Needs C$50 Billion Boost, Rosenberg Says

Bloomberg business news

Rosenberg: Canada Needs C$50 Billion of Fiscal Stimulus

Canada’s government needs to inject at least C$50 billion ($35.9 billion) into the resource-rich nation’s struggling economy to help weather the collapse in oil prices and stimulate growth, according to economist David Rosenberg.

“We are one of the few countries in the world that actually has that latitude to engage in fiscal stimulus,” the chief economist and strategist at Gluskin Sheff & Associates Inc. said in an interview with Pamela Ritchie on Bloomberg TV Canada in Toronto. “It’s got to be in smart infrastructure. There are areas of the economy in transportation infrastructure, communication, that could have tremendous multiplier impacts.”