Canada seen facing extraordinary economic situation

Tue Jan 27, 2009 5:54pm EST
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TORONTO (Reuters) - The economic difficulties facing Canada are extraordinary and require commensurate action in the budget, Finance Minister Jim Flaherty said on Tuesday.

Flaherty was speaking shortly after the minority Conservative government delivered a budget that promised a C$40 billion ($32 billion) two-year stimulus package and predicted budget deficits totaling C$85 billion over five years.

(Reporting by Wojtek Dabrowski; editing by Rob Wilson)