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Ottawa, Ontario, Canada (AHN) – Canadian Finance Minister Jim Flaherty has declared as over the economic boom times. He based his pessimistic outlook on weak, uneven economic global recovery and even high uncertainty when it concerns the U.S. economy.

Flaherty cautioned Canadians to expect just modest growth in the country’s gross domestic product to 2.6 percent and to brace themselves to adjust their expectations.

The Finance Minister’s forecast is similar to that of Bank of Canada Governor Mark Carney, who said on Sept. 30 that Canadians should anticipate slower economic growth in the coming months.

Flaherty is expected to delivery later this month the Finance Ministry’s yearly fiscal update to Parliament. As a run-up to the update, Flaherty met on Monday with 14 private sector economists.

However, the economists provided Flaherty a wide range of opinion on Canada’s economic prospects that the difference between the highest and lowest estimates was wider than previous forecasts.

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