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The revival in oil prices has given a boost to the Canadian economy and that upward trajectory is likely to sustain itself for some time, especially in the wake of the clearance given to the Keystone Pipeline project by the new Trump administration in the United States, Pierre Cléroux, Vice President, Research and Chief Economist of BDC, said during his interactive session at the Indo-Canada Chamber of Commerce (ICCC) last week.
Cléroux shared the latest economic outlook and forecast for Canada and Ontario based on BDC research at a program organized jointly by the ICCC and the BDC. The program 2017 Economic Outlook and Tackling the Productivity Challenge attracted a large number of enthusiastic participants eager to understand not only the economic forecast, but also to understand the various services offered to the small businesses by the BDC.
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| Pappur Shankar |
Devika Penekelapati |
Abubakkar Noohujohn |
Ajay Tondon |
Cléroux said that the economic changes that the Trump administration may usher in the near term will likely have a positive impact on both the Canadian and Ontario economies. He also said that in the near term, the rate of economic growth in the United States is likely to remain on an even keel. The only real issue that could likely have an adverse impact was the overheated housing market in Toronto, but that, too, is likely to taper off by sometime next year.
Pierre Cléroux was appointed Vice President, Research and Chief Economist at BDC in 2012.
Cléroux leads a team of experts who analyze economic data to identify business and sector trends impacting Canadian entrepreneurs. A seasoned speaker, he regularly travels across the country to help business owners understand the risks and opportunities presented by the economic environment. Cléroux is also responsible for providing economic analysis and advice to the Bank’s senior management team, and supervises all marketing and industry research activities. Over his 25-year career as an economist, he has held several influential positions that had a direct impact on entrepreneurs in Canada and abroad.
Devika Penekelapati, Vice President, Programs and Events, ICCC, introduced the speaker and Pappur Shankar, Vice President, Finance and SME, gave welcome remarks. Among the other directors present at the event included Abubakkar Noohujohn,
Ajay Tandon and Sanjay Brahmbhatt.
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