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Update of Economic and Fiscal Projections

November 2012

Table of Contents

Highlights

1. Keeping Canada on Course in an Uncertain World

Supporting Jobs and Growth

2. Economic Developments and Prospects

Introduction

Global Economic Developments and Outlook

Financial Market Developments

Commodity Prices

Recent Canadian Economic Developments

Canadian Economic Outlook

Risk Assessment

Planning Assumptions

3. Fiscal Outlook

Planning Assumptions

Reclassifications Reflecting the Adoption of the New Accounting Standard for Tax Revenues

Changes in the Fiscal Outlook Since the March 2012 Budget

Summary Statement of Transactions

Outlook for Budgetary Revenues

Outlook for Program Expenses

Risks to the Fiscal Projections

Sensitivity of the Budgetary Balance to Economic Shocks

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Date Modified: 2012-11-10

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