The hard work of Canadians, combined with the Government of Canada’s investments in the middle class and people working hard to join it, have delivered real results: more good, well-paying jobs, record low unemployment, and an economy that is one of the fastest-growing in the G7.
Finance Minister Bill Morneau is in Fukuoka, Japan, this weekend to meet with his fellow G20 Finance Ministers and Central Bank Governors. At the meeting, he will share Canada’s progress on strengthening and growing the middle class, and encourage his G20 colleagues to work together to build a global economy that works for more people.
In addition, he will provide an update on Canada’s actions to advance gender equality at home and around the world and to reduce risks to the global economy by addressing climate change. Open, fair and rules-based international trade will also be on the agenda, with Minister Morneau making the case that trade contributes to a strong global economy-citing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership as a positive example of a trade agreement that is bringing widespread benefits to people on both sides of the Pacific.
The meeting of G20 Finance Ministers and Central Bank Governors is a precursor to the G20 Leaders Summit, taking place in Osaka later this month.
“Canada continues to show the world that when people work hard, and when governments step up to give people the help they need to get ahead, the result is an economy that is strong and growing-one that really does work for everyone. At the same time, Canada can’t go it alone. We need to keep working with our G20 partners and the international community to build a strong global economy where everyone has a real and fair chance at success.”
– 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.