Assessment and Recommendations
I. Macroeconomic Performance
-The external and policy environment
-Following a period of strong growth, activity has slowed markedly
-The deline in unemployment has bottomed out
-Inflation has not yet receded
-The external balance has moved into substantial surplus
-Short-term prospects
-The medium-term outlook
II. Macroeconomic Policies
-Monetary management
-The fiscal stance
III. Improving Public Spending Outcomes
-Trends in and forces shaping government spending
-Assessing public expenditure outcomes
-Some policy challenges
IV. Structural Issues and Policies
-Product-market performance: Is trend productivity poised to take off?
-Labour market: Still high structural unemployment
-A brief look at financial market reform
-Summary and assessment
Annex I. Developments in Government Spending
Annex II. Legislated Fiscal Rules for the Provinces and Territories
Annex III. Treasury Board's Review Criteria in Reporting Accountability for Results
Annex IV. Best Practices on Fiscal Transparency
Annex V. The Government of Canada's Self-Assessment of the Fiscal Management System in Relation to the IMF's Code of Good Practices on Fiscal Transparency
Annex VI. Financial and Performance Reports of the Federal Government
Annex VII. Examples of Collaborated and Delegated Arrangements
Annex VIII. Calendar of Main Economic Events