November 23, 2008 / 7:48 PM / 9 years ago

Harper vows fiscal steps in event of recession

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.

<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>

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

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