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Canada projects 3.4 percent growth in 2002, 3.5 percent in 2003.

Europe Intelligence Wire

| October 30, 2002 | 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 is expected to grow 3.4 percent in fiscal 2002 and 3.5 percent in 2003, Finance Minister John Manley said in his first economic update since taking office in June.

"This is more than double the 1.5 percent growth rate recorded in 2001," Manley said.

The finance minister, speaking to a parliamentary committee meeting here, also said Canada projects budget surpluses of 1.0 billion dollars (640 million US) in fiscal 2002-03, which ends March 31, and 3.1 billion and 3.5 billion in the two following years.

The Department of Finance bases its projections on the calculated average of 20 private sector…

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