The International Monetary Fund’s latest global economic outlook predicts Canada’s economy will expand 2.4 per cent in 2025, faster than all its peers in the G7 and the 1.8 per cent average for all advanced economies. The fund said global gross domestic product will grow 3.2 per cent this year and next, little changed from its previous estimate in July. (The Logic)

Talking point: Canada’s showing is less impressive than it appears. The fund has Canada’s GDP expanding only 1.3 per cent in 2024—a humbling performance next to the U.S. and Spain, whose economies are projected to grow 2.8 per cent and 2.9 per cent, respectively, while maintaining growth rates of around two per cent in 2025. The World Economic Outlook provided few details, although Canada was mentioned along with Guyana and the U.S. as a source of “strong output growth” in oil that was partially offsetting production cuts by OPEC+ countries. Looking ahead, the IMF said now that the fight against inflation “has largely been won,” countries should execute a “triple pivot” to lower interest rates, narrower budget deficits and structural reforms to boost growth and productivity.