A strong economy starts with a strong middle class, and a commitment to ensuring that more people are able to benefit from the economic growth they help create. That’s the message Finance Minister Bill Morneau shared with his colleagues in Fukuoka, Japan, at a meeting of G20 Finance Ministers and Central Bank Governors.
During the meeting, Minister Morneau emphasized the importance of advancing gender equality, and giving women more opportunities to work and participate fully in the economy. He also spoke about the importance of open and fair international trade to a strong global economy, highlighting how the Comprehensive and Progressive Agreement for Trans-Pacific Partnership is bringing shared benefits to both Canadians and people throughout the Asia-Pacific region.
G20 Leaders will gather in Osaka, Japan, later this month to further shared efforts on a number of key issues, including building a global economy that works for everyone.
“As the G20 works together to build economies that work for more and more people, Canada is proud to be an international example of how putting people at the heart of an economic plan can result in a strong and growing economy. It is important that we all continue to work together on ways to strengthen global growth-especially when it comes to creating more opportunities for women to succeed, and to ensuing fair and open trade that benefits as many people as possible.”
– Bill Morneau, Minister of Finance
According to the International Monetary Fund, Canada is expected to be the second-fastest-growing G7 economy in 2019 and to tie for the fastest-growing G7 economy in 2020.
Canada has the lowest net debt-to-GDP (gross domestic product) ratio among G7 countries.
Under the Government’s plan, hard-working Canadians have created over 1 million new jobs, most of them full-time, driving the unemployment rate to its lowest levels in more than 40 years. This includes especially strong employment gains by women.