November 20, 2014 / 1:27 AM / 5 years ago

Canada finance minister expects growth as U.S. recovers

Canada's Finance Minister Joe Oliver delivers a speech Federation of Canadian Municipalities conference in Ottawa November 18, 2014. REUTERS/Chris Wattie

OTTAWA (Reuters) - As the U.S. economy continues to grow, Canadian companies that have been sitting on cash will start expanding and creating jobs, Finance Minister Joe Oliver said on Wednesday.

He told the Senate Committee on National Finance that the U.S. recovery looked “very sustainable” even if growth south of the border was not as robust as it was before the recent recession.

“We’re hopeful that our growth will continue to increase and...we see opportunities for the manufacturing sector as well,” Oliver said.

Asked about the biggest risks facing Canada, he cited the possibility that Europe could go into a downturn.

Reporting by Randall Palmer; Editing by Cynthia Osterman

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