Harper confident of economic fundamentals

Tue Apr 8, 2008 3:39pm EDT
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OTTAWA (Reuters) - Canada's economic fundamentals and the oversight of its financial system remain strong despite the effects of the U.S. subprime crisis now hitting the global economy, Prime Minister Stephen Harper said on Tuesday.

Harper also told a news conference that he had "a great deal of confidence" in how Canada was doing compared with its major trading partners, as well as the rest of the world.

The Conservative government has been saying for months that the U.S. slowdown would hit Canada's economy.

"The fundamentals of the Canadian economy remain strong and the fundamentals of the Canadian financial system and of oversight of the Canadian financial system, while they could always be improved, I think also remain strong," said Harper.

"We actually, vis-a-vis the world and our major trading partners, have a great deal of confidence about how Canada is positioned."

(Reporting by David Ljunggren; editing by Rob Wilson)

<p>Canada's Prime Minister Stephen Harper (front) speaks during Question Period as Conservative Member of Parliament Tom Lukiwski looks on, in the House of Commons on Parliament Hill in Ottawa April 7, 2008. REUTERS/Chris Wattie</p>