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IMF Lowers Its Projections for Canada's Growth This Year and 2027 on Low Population Growth, Trade Uncertainty

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The International Monetary Fund (FMI) on Wednesday trimmed its Canadian economic growth forecasts for this year and 2027 on slower population growth, weak investment and trade uncertainty.

These headwinds continue to outweigh the support provided by stronger terms of trade and resilient household consumption, wrote the IMF in its latest World Economic Outlook.

The IMF now predicts Canada's economy will expand 1.1% this year and 1.7% in 2027, down from 1.5% and 1.9% estimated respectively in April. The country's economy grew 1.9% last year.

Stronger 2027 growth depends on effective policy implementation and a firmer private investment response, added the IMF.

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