Markets

Canada's Fiscal Strength Means Commodities Won't Sink Soundest G-7 Economy: report

Canada's economy is seen by economists as able to withstand any weakness in commodity prices as it taps strengths that include political stability and the best fiscal outlook of any Group of Seven country, Bloomberg reported.

Prime Minister Stephen Harper's election victory last week allows him to move ahead with his deficit-cutting plans, and provide certainty in policy making that will help support Canada's currency, said David Rosenberg, chief economist at Gluskin Sheff + Associates in Toronto.

"Canada as an attractive place to invest transcends the commodity story and a lot of that has to do with political stability and fiscal integrity," Rosenberg said in a telephone interview, adding "the long-term trend line" for commodities "is still pointing up."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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