BRIEF-Canada's Oliver fields question about possible recession

Tue Jul 7, 2015 1:15pm EDT
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July 7 (Reuters) -

* Canada's Oliver, asked about whether Canada is in a recession: We are in a fragile economic environment, we're getting repeated evidence of that

* Canada's Oliver: this is a critical time for the Canadian economy to stay the course, remain fiscally responsible

* Canada's Oliver: U.S. Had disappointing Q1, there are indications that the U.S. economy is on the move, which is a significant backdrop for Canada's economic potential

* Canada's Oliver: U.S. growth would mean sign for Canadian companies to invest

* Canada's Oliver: we're comfortable European authorities will deal with instability in Europe in positive way

* Canada's Oliver: confident that we will see the surplus forecast for this year in federal budget

* Canada's Oliver: important to remember some of the measures announced by PM Harper and in budget will inject C$10 billion this year

* Canada's Oliver: there have been a number of economists that have readjusted economic forecasts down, we will take a look at numbers as they appear

* Canada's Oliver: virtually all economists I've talked to see positive growth for year overall; this is not the time for raising taxes or high spending (Reporting by Julie Gordon in Vancouver; Writing by Randall Palmer and Leah Schnurr in Ottawa)