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Canada lowers economic growth projections following SARS, mad cow crises.

Europe Intelligence Wire

| November 03, 2003 | COPYRIGHT 2003 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Agence France Presse)

Canada's economic growth and budget surplus projections have been lowered following the severe acute respiratory syndrome (SARS) and mad cow crises, Finance Minister John Manley said.

Citing a panel of private economists, Manley said gross domestic product (GDP) was now expected to increase by just 1.9 percent this year and 3.0 percent in 2004. The initial prediction was for 3.2 percent in 2003 and 3.5 percent next year.

Projections for the budget surplus for the current fiscal year have been reduced from four billion dollars (three billion US) to 3.5 billion dollars (2.6 billion US), Manley said Monday.

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