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Economic recovery could take longer than we thought

OTTAWA, Ont. - Canada's economy may take longer to bounce back than originally expected, according to Canada's top banker and Prime Minister Jean Chretien.Although it was reported Canada's economy sho...


OTTAWA, Ont. – Canada’s economy may take longer to bounce back than originally expected, according to Canada’s top banker and Prime Minister Jean Chretien.

Although it was reported Canada’s economy should recover fully by later this year, now officials are claiming it may take until the second half of 2002.

“It’s very difficult to know exactly what economic growth will be,” Chretien told local media.

Finance Minister Paul Martin echoed those sentiments, claiming “You can’t pinpoint down to a week, a month or even a quarter.”

It is important to note these estimates were released prior to Sept. 11. Following the attack on the U.S. many economists are predicting a full-blown recession operating on a much longer timeline. n


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