Canada to Emerge as a Strong Economy by 2010

As reported by the Canadian Imperial Bank of Commerce (CIBC), world market expects to see a surprise growth of Canadian economy which would outperform other countries in the developed nations. The economic growth of Canadian economy is however expected to be limited until 2011 as the recession is expected to end by then and it is forecasted that the economy of other countries would also reach its full swing. The fact however could be attributed to the increase in stimulus spending of $40 Billion. The report also continued to mention that Canada was not hit as hard as other developed nations due to recession. Canada’s performance during the recession times is due to the country’s resilience of the market sectors like housing etc and its strength in the banking system.
By the end of September, The Bank of Canada and the organization for economic Co-operation and Development declared that they have witnessed signs of recovery in the Canadian economy as well as some other economies of the world. As reported by CIBC, it is expected that Canada’s economy would grow at a rate of two percent in 2010, which is stronger than the growth rate which is expected of the US Economy and European Countries as well.
Speaking on the same, the CIBC Chief Economist, Avery Shenfeld stressed that ‘the injection of stimulus dollars’ into the world's economies have had a lot to do with this forecasted turn around and subsequent growth. "On some dimensions, Canada stands out from its peers, largely because the financial shock to the household, government and banking sectors was less dramatic than in the U.S. or some parts of Europe," notes Mr. Shenfeld. "But as we saw last year, no country is an island, and after a decent finish to 2009, Canada could be waiting another year for truly robust growth."
It is quite noticeable as some countries completely shut down immigration, with the boom in the economy Canada is bound to meet the immigration standard requirements for the smooth running of economy. As Canadian financial system would flourish, more and more opportunities will open up for its local residents and people who dream to immigrate to Canada on various criteria. Many occupations are going to add in the Federal Skilled Worker programme for immigration to Canada.
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written by Varsha Negi
www.angadinfo.com