The audit, tax, and consulting firm RSM Canada released a quarterly report on the prospects for the Canadian economy this year. The second quarter report was prepared following Russia’s invasion of Ukraine. It notes that financial conditions will be tighter for the remainder of the year, with another interest rate increase expected in June. However, the conflict in Europe has put the Canadian energy and agricultural sectors in a comparatively strong position. The company claims that further government action – in the form of investment and incentives – are necessary to begin to inch energy consumption away from surging fuel prices.
SOURCE: CISION Newswire – Energy and agricultural sectors to lead Canadian economy in 2022