Canadian Finance Minister Joe Oliver stated in an interview on Tuesday (May 27) that the Canadian economy and inflation are performing well, and although exports have been weak, they are expected to grow.
Oliver said: "Overall, I think the economy is moving in the right direction. We are seeking to achieve a (budget) surplus next year. More than one million jobs have been created, the economy is growing at a reasonable pace, and inflation is undoubtedly within the target range."
He added that he hopes exports will accelerate as the global economy strengthens, particularly with the continued growth of the U.S. economy.
Previously, Oliver issued a statement noting that Canada's major banks would provide free accounts to seven million low-income individuals. Regarding this, he stated that he is not concerned that banks will charge higher-income consumers more to recoup lost revenue, as these banks are very strong and capable of remaining profitable.
