Strong institutions, predictable policymaking, and diversified economy We expect policymaking to remain focused on prudent public finances and economic growth, despite political uncertainty under the new federal minority government. With the U.S. economy slowing and global trade frictions lingering, we expect Canada to register below-potential GDP growth in 2020, before returning to trend in 2021-2022. Canada's strong institutions, effective policymaking, and economic diversification provide a firm basis for sustainable long-term economic growth. Ample fiscal and monetary buffers Sound economic growth has kept Canada's public finances in good shape, with the country's general government deficits expected to remain small from 2019-2022. Despite its persistent current account deficits, Canada is likely to remain a net external creditor over the next few years,
