The economics arm of Toronto-Dominion Bank is forecasting “constrained growth” for Canada in 2019, according to the lender’s president and chief executive officer.
Bharat Masrani also said Thursday that there are still several economic problems that need fixing, such as figuring out how to export Canadian oil and natural gas abroad, how to reduce trade barriers between provinces and how to boost housing supply. “TD Economics anticipates constrained growth for 2019,” Masrani told an annual meeting of shareholders in downtown Toronto. “It’s continuing to watch the market, macro-economic and geopolitical uncertainty and potential strains in the energy market and supply of Canadian housing.”
The CEO added that it is his hope Canada will “look to our strengths” to find ways to tackle the challenges facing the economy, including by tapping into its “rich innovation tradition.” “Some of the fastest growing markets for tech jobs in the world are located here,” Masrani said. “Venture capital has been flowing into Canada. We’re home to world-renowned research institutions. And we continue to attract the best and the brightest from Canada — and around the world — to innovation hubs across the country.