Canada budget to show revenues C$2.1 bln lower than expected

Mon Mar 18, 2013 10:36am EDT
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OTTAWA, March 18 (Reuters) - The Canadian government's budget this Thursday will assume 3.3 percent growth in nominal gross domestic product this year, down from a previous estimate of 4 percent, resulting in C$2.1 billion less revenue, a government official said on Monday.

The outlook for real GDP is also weaker and is now seen at 1.6 percent compared with 2.0 percent previously, said the official, who declined to be named.

The federal government bases its fiscal projections on the average forecast of private sector economists. Finance Minister Jim Flaherty met with the economists last week but did not divulge their numbers.