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Canada's Deficit Drops, New Initiatives Announced
Description
Canadas latest fiscal update reveals a smaller-than-expected deficit, driven by a robust economy and increased tax revenues from higher oil prices. The government plans to spend most of the extra cash on affordability measures, while new initiatives focus on skilled trades training, a financial crimes agency, and an independent defense investment body. A sovereign wealth fund, Canada Strong, is announced, but details are scarce. The deficit-to-GDP ratio remains high, with trade risks and Middle East tensions posing potential challenges.
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