Harper vows fiscal steps in event of recession

Sun Nov 23, 2008 2:44pm EST
 
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LIMA (Reuters) - Canada could dip into a technical recession later this year or early 2009, Prime Minister Stephen Harper said on Sunday, vowing to use fiscal stimulus if needed.

He said any stimulus package must be effective and avoid long-term budget deficits.

"The most recent private sector forecast suggests the strong possibility of a technical recession at the end of this year, beginning of next," he told a news conference in Lima.

(Reporting by Paul Eckert, editing by Terry Wade)

 
<p>Canada's Prime Minister Stephen Harper (R) stands next to Brunei's Sultan Hassanal Bolkiah while wearing ponchos from Peru for the group photo at the Asia-Pacific Economic Cooperation (APEC) summit in Lima, November 23, 2008. REUTERS/Mariana Bazo</p>