Canada Ahead Against G7: IMF Economic Growth Estimate for 2017

The Canadian economic growth increased the estimated value until next year of the  International Monetary Fund. It was placed in a higher ranking amongst developed countries.

The projected value of the country’s Gross Domestic Product for this year is 3.0 percent which is half a percent higher than the prediction in July. This makes Canada be on top of other advanced seven nations with the United States ranks at 2.2 percent growth since last year.  

The figures from the IMF were similar to the quotation issued in the previous month by the Organisation for Economic Co-operation and Development and assumed that the country would lead the G7 countries for 2017.

It was said that the reason for an increase in growth was the drop in oil and gas prices and further supported by the government and the central bank policies. For next year, the Canada is anticipated to move at a slower rate with an estimated figure of 2.1 percent growth year-on-year in 2018. Yet, this is still higher than 0.2 percent than the IMF July update and second-highest among the G7 with the United States at 2.3 percent.