MONTREAL — The Quebec and Canadian economies are in strong enough shape that new budget stimulus packages aren’t needed at this time, Quebec Finance Minister Raymond Bachand said Monday.
“I don’t think it’s necessary in Quebec and Canada. The economy is still growing and employment is very, very strong in Quebec,” he said after announcing the launch of a structured finance and derivatives institute at the University of Montreal’s business school.
The province provided $15 million of funding over 10 years to the Montreal Structured Finance and Derivates Institute. Partners include the Bank of Montreal (TSX:BMO) and Caisse de depot.
Bachand said he supports the position of the federal government, which hasn’t categorically ruled out a new stimulus package.
“It’s saying it’s not the time now and I think they’re right because the economy in Quebec is going well. But we have to be very close to the market and be able to adapt.”