"So-called" economic recovery fragile: Harper

Thu Jul 30, 2009 2:39pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

OTTAWA (Reuters) - Prime Minister Stephen Harper issued a warning on Thursday about how well nations are coping with the world crisis, saying the "so-called" economic recovery is extremely fragile.

Harper's comments echoed those of his finance minister, who said on Tuesday it was too early to state that Canada had emerged from recession. Last week the Bank of Canada declared the recession to be virtually over.

"We're still in the middle of a global economic crisis ... I know there are some signs of optimism but the so-called recovery at this point is extremely fragile," Harper told a televised news conference in Adstock, Quebec.

"It's based on governments continuing with coordinated worldwide fiscal and monetary stimulus," he said.

Harper also predicted that Canada's unemployment rate would continue to rise.

(Reporting by David Ljunggren; editing by Peter Galloway)

<p>Canada's Prime Minister Stephen Harper arrives on Parliament Hill in Ottawa July 29, 2009. REUTERS/Chris Wattie</p>