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    22.02.2016 16:02 Canada’s finance ministry cuts its economic growth forecast for 2016

    Canada's finance ministry on Monday cut its economic growth forecast due to low oil prices. Canadian Finance Minister Bill Morneau said that the economy is expected to expand 1.4% in 2016, down from the November forecast of 2.0%, and 2.2% in 2017, unchanged from the November estimate.

    The 2016-17 budget deficit is expected to be C$18.4 billion, while the 2017-18 deficit is forecasted to be C$15.5 billion.

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