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Canada’s Finance Minister admits economy in worse shape than Ottawa thought

Bill Morneau told several hundred people attending a Halifax Chamber of Commerce luncheon that his department's projections on growth since the 2015 budget have fallen due to oil prices that are less than half those of 2014.

HALIFAX — The federal finance minister says the Canadian economy is suffering from slower growth than originally projected by the former Conservative government.

Bill Morneau told several hundred people attending a Halifax Chamber of Commerce luncheon that his department’s projections on growth since the 2015 budget have fallen due to oil prices that are less than half those of 2014.

But he didn’t indicate if that will mean the federal deficit will be higher than the Liberals promised during the campaign.

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