Extraordinary Record
" Canada has undergone a remarkable fiscal consolidation in the past 13 years, moving from deficits of more than five percent of GDP to surpluses of up to two percent of GDP . . . this results from its sound public finances, its diversified economy, and its political stability. "
Standard & Poor’s , reaffirming the "AAA" rating for Canada, January 2006
Take Canada’s prudent fiscal policy, low inflation, interest and unemployment rates, and a corporate tax framework that is among the best in the world. Factor in Canada’s status as an emerging energy superpower, the only stable and growing producer of this scarce commodity in an unstable world. Add to that the country’s strategic investments in technology, education and healthcare. What do you create? Ideal conditions for businesses to grow and prosper!
Quarter-over-quarter, year after year, Canada's outstanding track record sets it apart from its competitors. The 2007 Canadian budget plan projected the country’s 10th straight surplus — the longest stretch of surpluses since Canada was formed in 1867 and the only one among G7 countries ’ and there’s no end in sight. The country’s current account is in surplus for the 27th consecutive quarter, government debt has been dramatically lowered and both personal and corporate taxes are tumbling. With this winning combination, solid growth is the defining feature of Canada’s dynamic and diversified economy.
AAA credit rating: According to Moody’s Financial Strength, Canadian banks rank first among the G7 in terms of their intrinsic credit worthiness.
Canada’s debt-to-GDP ratio is at 33.8 per cent in 2004-2005 and Canada’s objective is to reduce the debt-to-GDP ratio to 25 per cent by 2013–14.
Canada’s inflation rate averaged 2.3% over the past five years, lower than the inflation rate recorded in the US over the same period.
Banks You Can Bank On
Canada's well-regulated financial institutions ’ banks, trust companies, cooperatives, insurance companies and stock exchanges ’ have demonstrated a stability and competitiveness that has made their services popular around the world. The sector has become one of Canada's major export earners since worldwide liberalization of financial regulations. Canada’s other financial institutions are equally impressive, offering investment opportunities that are both lucrative and safe.
Support When You Need It
Canada's Export Development Corporation (EDC) provides trade finance and risk management services to Canadian exporters and foreign investors.
Information in this section is provided by the Government of Canada