Prime Minister Justin Trudeau gives a COVID-19 update in front of Rideau Cottage on Wednesday, June 17, 2020. (CPAC)

Prime Minister Justin Trudeau gives a COVID-19 update in front of Rideau Cottage on Wednesday, June 17, 2020. (CPAC)

Feds to reveal state of Canada’s COVID-affected economy, release fiscal ‘snapshot’ on July 8

Update will give look at economic state of the country

The federal government will release a fiscal update on July 8, Prime Minister Justin Trudeau said during his daily update at Rideau Cottage Wednesday (June 17).

Trudeau said the update would give Canadians a sense of “where we are now,” as well as how the country compares to the rest of the world.

Wednesday’s announcement was an about-turn for Trudeau, who had in prior weeks said a fiscal update would be unrealistic amid a pandemic.

He said his government has provided updates to the finance committee every two weeks.

The update that is promised for July 8 will not be a full economic update, the prime minister noted, but “more of a snapshot of where we are right now.”

Trudeau said the update would only include predictions for the coming months, not years as is typical of fiscal or economic updates.

“I think it will be useful for people to see the scale and impact of everything we’ve put out,” Trudeau said.

“It would be unrealistic to project further than a few months.”

READ MORE: CERB to be extended by eight weeks amid gradual post-COVID reopening


@katslepian

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