IMF sees Canada's Liberal government tied for worst economic performance among G7 during 2016
On the campaign trail for the federal election last fall in Canada, the Liberal Party under novice leader Justin Trudeau was relentless in their attacks on the poor economic performance that had taken place under the Conservative Party led by Stephen Harper.
The Liberals won the election in October, and since then they have had a chance to show Canadians and the world what their economic management skills are.
And based on the latest World Economic Outlook, the IMF views their talents as negligible.
According to the IMF, Canada is projected to be tied with Germany for the lowest growth among the G7 in per capita GDP during 2016, at just 1.3%.
By comparison, the rest of the G7 are estimated to be in better economic shape: Italy, 1.4%; Japan, 1.6%; France, 1.7%; the U.K., 1.9%; and the United States, 2.5%.
The bad economic news comes despite the Liberal's budget released in March that projected a $30 billion deficit for 2016 – which was supposed to stimulate the economy – with no plan to return to surplus territory in the foreseeable future.
The disappointing results aren't surprising, given the poor quality of the Liberal Party's economic advisory team, which includes a number of inexperienced members with a substandard record of economic and other analyses.