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Parliamentary Budget Officer Releases Economic and Fiscal Outlook – October 2026

Ottawa (Ontario), October 20, 2026

Federal spending, borrowing and debt continue to rise amid weaker economic growth

The Parliamentary Budget Office (PBO) today released the Economic and Fiscal Outlook – October 2026, which projects weaker economic growth and larger borrowing than forecast in June. The report also forecasts that the government will meet only one of its two fiscal anchors.

The report reflects economic performance, new tax and spending measures announced since June, and the impact of new tariffs and counter-tariffs as of October 1st. Current fiscal projections do not reflect new measures yet to be announced in the upcoming federal budget.

Key Findings / Quick Facts

  • Canada’s real GDP growth is now projected to be 0.9 per cent in 2026 and 1.5 per cent in 2027, down from 1.1 per cent and 1.6 per cent, respectively, in the June outlook.
  • The weakened economic growth forecast is primarily attributed to revised tariff and trade conditions vis-à-vis the United States.
  • Nominal GDP growth is up, at 5.6 and 3.4 per cent in 2026 and 2027, reflecting inflation and price increases for oil and commodities which boost federal revenue projections for the next two fiscal years.
  • If permanent, trade measures introduced since early 2025 could lower real GDP by about 1.4 per cent over the medium term, compared with a no-tariff scenario.
  • Over the five-year forecast period, available fiscal room improved by $37.4 billion since June; new spending measures are estimated to cost an additional $52.6 billion over five years, more than offsetting the revenue improvement. By 2030-31, the deficit is projected at $67.8 billion, $9.5 billion higher than in June.
  • The deficit is projected to be $63.3 billion in 2026-27, lower than the June forecast, reflecting a combination of stronger revenues and new federal spending.
  • The Government is projected to meet its operating budget fiscal anchor in 2028‑29, with a surplus of $6.2 billion.
  • The Government is projected to not meet its second fiscal anchor of a declining deficit-to-GDP ratio, with this ratio projected to rise in both 2027‑28 and 2029‑30.
  • Cumulative deficits over the next five years are projected to total $333.3 billion
  • Federal borrowing over the next five years is projected to rise by $732.9 billion.
  • The federal debt-to-GDP-ratio – the traditional measure of fiscal sustainability – is projected to rise each year, from 40.8 per cent in 2026-27 to 42.6 per cent in 2030-31.

Quotes

  • Canada faces a more challenging economic and fiscal outlook than we projected in June. Additional trade measures and ongoing uncertainty are weighing on growth in real output – what we produce as a country.

  • A balanced operating budget anchor should not be interpreted as a balanced fiscal position. By design, it excludes debt-financed capital spending, meaning borrowing and debt can continue to grow while the target is being achieved.

  • Federal borrowing will significantly exceed cumulative budgetary deficits over the projection period, because under accrual accounting, capital expenses and loans to Crown corporations are recorded as assets rather than liabilities. This obscures the realities of cash debt and raises questions about whether the current fiscal framework provides a complete and transparent picture of Canada's fiscal sustainability.

  • Over the longer term, Canada’s economic and fiscal outlook will depend heavily on whether recent capital budget investments can translate into stronger productivity, economic capacity and prosperity.

  • The PBO continues to maintain that debt-to-GDP-ratio is an important benchmark for measuring fiscal health. It will rise steadily over the five-year horizon.

Annette Ryan
Parliamentary Budget Officer

Publications

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As such, PBO projects an improvement in the projected deficit in 2026-27 to $63.3 billion, but a deterioration of $9.5 billion in 2030-31 to $67.8 billion compared to our June outlook.","fr":"La hausse du PIB nominal a am\u00e9lior\u00e9 les revenus depuis juin. La marge de man\u0153uvre financi\u00e8re additionnelle est concentr\u00e9e au d\u00e9but de la p\u00e9riode, atteignant un sommet de 15,5 milliards de dollars en 2026-2027, avant de diminuer \u00e0 3,4 milliards de dollars en 2030-2031. Les nouvelles d\u00e9penses et les mesures fiscales annonc\u00e9es par la suite devraient entra\u00eener des co\u00fbts additionnels de 52,6 milliards de dollars au cours de ces cinq ann\u00e9es, atteignant 12,9 milliards de dollars en 2030-2031. Dans ce contexte, le BDPB pr\u00e9voit une am\u00e9lioration du d\u00e9ficit projet\u00e9 en 2026-2027 \u00e0 63,3 milliards de dollars. En revanche, en 2030-2031, le d\u00e9ficit atteindrait 67,8 milliards de dollars, ce qui repr\u00e9sente une d\u00e9t\u00e9rioration de 9,5 milliards de dollars par rapport \u00e0 nos perspectives de juin."}},{"content":{"en":"PBO currently projects that the Government will meet its operating budget fiscal anchor in 2028\u201129, with a surplus of $6.2 billion, following a small projected deficit in 2027-28. PBO projects the Government will not meet its second fiscal anchor of a declining deficit-to-GDP ratio, with this ratio projected to rise in 2027\u201128 and, marginally, in 2029\u201130. New measures to be announced in Budget 2026 could change the timing and profile of either anchor. On balance, the two fiscal anchors have imposed limited fiscal discipline on government spending and borrowing.","fr":"Le BDPB pr\u00e9voit que le gouvernement atteindra sa cible budg\u00e9taire relative au budget de fonctionnement en 2028-2029, avec un exc\u00e9dent de 6,2 milliards de dollars, apr\u00e8s un l\u00e9ger d\u00e9ficit projet\u00e9 en 2027-2028. Le BDPB pr\u00e9voit que le gouvernement n\u2019atteindra pas sa deuxi\u00e8me cible budg\u00e9taire, soit maintenir le ratio du d\u00e9ficit au PIB sur une trajectoire descendante, ce ratio devant augmenter en 2027-2028, puis l\u00e9g\u00e8rement en 2029-2030. Les nouvelles mesures qui seront annonc\u00e9es dans le budget de 2026 pourraient modifier le moment o\u00f9 l\u2019une ou l\u2019autre des cibles budg\u00e9taires sera atteinte, ainsi que son profil. Dans l\u2019ensemble, les deux cibles budg\u00e9taires imposent une discipline budg\u00e9taire limit\u00e9e en mati\u00e8re de d\u00e9penses et d\u2019emprunts publics."}},{"content":{"en":"PBO anticipates that federal borrowing will grow significantly faster than deficits, which are measured on an accrual basis. Over the next five years, cumulative deficits are projected to total $333.3 billion, whereas federal borrowing is projected to rise by $732.9 billion, as the Government borrows to finance loans, capital investments, defence procurement and other financial assets, which add to national debt on a cash basis.","fr":"Le BDPB s\u2019attend \u00e0 ce que les emprunts f\u00e9d\u00e9raux augmentent beaucoup plus rapidement que les d\u00e9ficits, lesquels sont mesur\u00e9s selon la m\u00e9thode de la comptabilit\u00e9 d\u2019exercice. Au cours des cinq prochaines ann\u00e9es, les d\u00e9ficits cumul\u00e9s devraient totaliser 333,3 milliards de dollars, tandis que les emprunts f\u00e9d\u00e9raux devraient augmenter de 732,9 milliards de dollars. Cette hausse s\u2019explique par les emprunts contract\u00e9s par le gouvernement pour financer des pr\u00eats, des investissements en immobilisations, des acquisitions de mat\u00e9riel de d\u00e9fense et d\u2019autres actifs financiers qui, selon la m\u00e9thode de la comptabilit\u00e9 de caisse, s\u2019ajoutent \u00e0 la dette f\u00e9d\u00e9rale."}},{"content":{"en":"The federal debt-to-GDP ratio, the traditional measure of fiscal sustainability, is projected to rise each year, from 40.8 per cent in 2026-27 to 42.6 per cent in 2030-31. 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Additional trade measures and ongoing uncertainty are weighing on growth in real output \u2013 what we produce as a country.","content_fr":"Le Canada est confront\u00e9 \u00e0 des perspectives \u00e9conomiques et financi\u00e8res plus difficiles que ce que nous avions pr\u00e9vu en juin. Les mesures commerciales additionnelles et l\u0027incertitude qui persiste brident la croissance de la production r\u00e9elle \u2013 ce que nous produisons en tant que pays.","play_count":43,"hashid":"Z4qKj29K8g"},{"id":156,"created_at":"2026-10-19T17:27:01-04:00","updated_at":"2026-10-21T07:40:23-04:00","content_en":"A balanced operating budget anchor should not be interpreted as a balanced fiscal position. By design, it excludes debt-financed capital spending, meaning borrowing and debt can continue to grow while the target is being achieved.","content_fr":"Une cible de budget de fonctionnement \u00e9quilibr\u00e9 ne devrait pas \u00eatre interpr\u00e9t\u00e9e comme une situation budg\u00e9taire \u00e9quilibr\u00e9e. Elle est con\u00e7ue de mani\u00e8re \u00e0 exclure les d\u00e9penses d\u2019immobilisations financ\u00e9es par des emprunts, ce qui signifie que les emprunts et la dette peuvent continuer d\u2019augmenter, m\u00eame si la cible est atteinte.","play_count":27,"hashid":"AEDKY2y5ej"},{"id":157,"created_at":"2026-10-19T17:29:25-04:00","updated_at":"2026-10-21T07:40:23-04:00","content_en":"Federal borrowing will significantly exceed cumulative budgetary deficits over the projection period, because under accrual accounting, capital expenses and loans to Crown corporations are recorded as assets rather than liabilities. This obscures the realities of cash debt and raises questions about whether the current fiscal framework provides a complete and transparent picture of Canada\u0027s fiscal sustainability.","content_fr":"L\u2019emprunt f\u00e9d\u00e9ral d\u00e9passera largement le d\u00e9ficit budg\u00e9taire cumulatif au cours de la p\u00e9riode de projection parce qu\u2019en comptabilit\u00e9 d\u2019exercice, les d\u00e9penses d\u2019immobilisations et les pr\u00eats aux soci\u00e9t\u00e9s d\u2019\u00c9tat sont inscrits comme des \u00e9l\u00e9ments d\u2019actif et non comme des \u00e9l\u00e9ments de passif. Cela masque la r\u00e9alit\u00e9 de la dette en esp\u00e8ces et soul\u00e8ve des questions quant \u00e0 savoir si le cadre budg\u00e9taire actuel donne un portrait complet et transparent de la viabilit\u00e9 financi\u00e8re du Canada.","play_count":25,"hashid":"Ao7VWXeKmq"},{"id":158,"created_at":"2026-10-19T17:33:04-04:00","updated_at":"2026-10-21T07:40:23-04:00","content_en":"Over the longer term, Canada\u2019s economic and fiscal outlook will depend heavily on whether recent capital budget investments can translate into stronger productivity, economic capacity and prosperity.","content_fr":"\u00c0 long terme, les perspectives \u00e9conomiques et financi\u00e8res du Canada d\u00e9pendront largement de la mesure dans laquelle les investissements du budget d\u2019immobilisations se traduiront ou non par une croissance de la productivit\u00e9, de la capacit\u00e9 \u00e9conomique et de la prosp\u00e9rit\u00e9.","play_count":27,"hashid":"pEXK3JgVWn"},{"id":159,"created_at":"2026-10-19T17:41:47-04:00","updated_at":"2026-10-21T07:40:23-04:00","content_en":"The PBO continues to maintain that debt-to-GDP-ratio is an important benchmark for measuring fiscal health. It will rise steadily over the five-year horizon.","content_fr":"Le BDPB continue de soutenir que le ratio de la dette au PIB est un rep\u00e8re important pour mesurer la sant\u00e9 financi\u00e8re. Il augmentera de fa\u00e7on constante au cours des cinq prochaines ann\u00e9es.","play_count":25,"hashid":"MYexPMGVav","author":{"slug":"annette-ryan","created_at":"2026-04-23T12:38:21-04:00","updated_at":"2026-06-23T13:12:32-04:00","is_pbo":true,"is_dpbo":false,"phone":"613-992-8026","firstname":"Annette","lastname":"Ryan","title_en":"Parliamentary Budget Officer","title_fr":"Directrice parlementaire du budget","bio_en":"Annette Ryan is the Parliamentary Budget Officer of Canada.\n\nShe previously held numerous senior public service roles with experience in economic analysis, fiscal policy, taxation, financial crime and public finance. Over the course of her career, she worked across several federal and provincial departments - leading major policy, regulatory, analytical, and operational functions that support evidence-based public finance and economic governance. She began her career doing empirical research on business performance and labour productivity at the Institute for Fiscal Studies in London, UK.\n\nMs. Ryan holds a Bachelor of Arts in Mathematics (Honours) from Acadia University and a Master of Philosophy in Economics from Oxford University, where she studied as a Rhodes Scholar.","bio_fr":"Annette Ryan est la directrice parlementaire du budget du Canada.\n\nPr\u00e9c\u00e9demment, elle a occup\u00e9 de nombreux postes de haute direction dans la fonction publique, o\u00f9 elle a acquis une exp\u00e9rience dans les domaines de l\u2019analyse \u00e9conomique, de la politique budg\u00e9taire, de la fiscalit\u00e9, de la criminalit\u00e9 financi\u00e8re et des finances publiques. Au cours de sa carri\u00e8re, elle a travaill\u00e9 au sein de plusieurs minist\u00e8res f\u00e9d\u00e9raux et provinciaux, o\u00f9 elle a dirig\u00e9 d\u2019importantes fonctions strat\u00e9giques, r\u00e9glementaires, analytiques et op\u00e9rationnelles visant \u00e0 soutenir une gouvernance \u00e9conomique et des finances publiques fond\u00e9es sur des donn\u00e9es probantes. Elle a commenc\u00e9 sa carri\u00e8re en menant des recherches empiriques sur le rendement des entreprises et la productivit\u00e9 du travail \u00e0 l\u2019Institute for Fiscal Studies de Londres, au Royaume-Uni.\n\nMme Ryan est titulaire d\u2019un baccalaur\u00e9at \u00e8s arts en math\u00e9matiques (avec distinction) de l\u2019Universit\u00e9 Acadia et d\u2019une ma\u00eetrise en \u00e9conomie de l\u2019Universit\u00e9 d\u2019Oxford, qu\u2019elle a fr\u00e9quent\u00e9e \u00e0 titre de boursi\u00e8re de la fondation Rhodes.","optout_show_photography_online":null,"optout_tag_on_social_media":null,"pronouns":["she","her","elle"],"suffixes":[],"sortable_name":"Ryan, Annette","pictures":{"small":null,"medium":null,"large":null,"medium_square":null,"small_square":null},"is_archived":false,"user":{"id":95,"name":"Ryan, Annette","email":"annette.ryan@parl.gc.ca","phone":null,"title":null,"created_at":"2026-04-23T16:36:04.000000Z","updated_at":"2026-10-16T20:58:05.000000Z","role":"staff"}}}],"bills":[],"labels":[],"bibtex":{"en":"@techreport{PBO-RP2627011S,\n author={Giswold, Jill and Kpekou Tossou, Rolande and Stanton, Jason and Creighton, Mark and Dong, Matt and Laurin, Marianne and McGoey, Matthew and Robert-Lacroix, Ulysse and Scholz, Tim and Vrhovsek, Zachary},\n title={Economic and Fiscal Outlook - October 2026},\n institution={The Office of the Parliamentary Budget Officer},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-RP2627011S,\n author={Giswold, Jill and Kpekou Tossou, Rolande and Stanton, Jason and Creighton, Mark and Dong, Matt and Laurin, Marianne and McGoey, Matthew and Robert-Lacroix, Ulysse and Scholz, Tim and Vrhovsek, Zachary},\n title={Perspectives \\\u0027{e}conomiques et financi\\`{e}res - Octobre 2026},\n institution={Bureau de la directrice parlementaire du budget},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}"}} {"id":"NT-2627-014-S","is_published":"2026-10-20T12:57:07.000000Z","release_date":"2026-10-20T13:00:00.000000Z","last_revised_date":null,"title_en":"Economic and Fiscal Outlook Assessment Note \u2013 Economic Impact of Recent Canada-U.S. Trade Measures","title_fr":"Note d\u2019\u00e9valuation sur les Perspectives \u00e9conomiques et financi\u00e8res \u2013 Incidence \u00e9conomique des r\u00e9centes mesures commerciales entre le Canada et les \u00c9tats-Unis","internal_id":"NT-2627-014-S","metadata":{"abstract_en":null,"abstract_fr":null,"highlights":[{"content":{"en":"Since early 2025, successive rounds of tariffs, retaliatory measures and product-specific restrictions have increased barriers to Canada-U.S. trade.","fr":"Depuis le d\u00e9but de 2025, les s\u00e9ries successives de droits de douane, de mesures de r\u00e9torsion et de restrictions visant certains produits ont eu des r\u00e9percussions croissantes sur les \u00e9changes commerciaux entre le Canada et les \u00c9tats-Unis."}},{"content":{"en":"PBO estimates that trade actions introduced since June 2026 have increased the trade-weighted average effective U.S. tariff rate on imports from Canada from 5.3 per cent to 7.7 per cent. Canada\u0027s response to the new U.S. tariffs has increased the equivalent Canadian rate on imports from the United States from 1.6 per cent to 3.0 per cent.","fr":"Selon les estimations du Bureau de la directrice parlementaire du budget (BDPB), les mesures commerciales mises en place depuis juin 2026 ont fait passer le taux effectif moyen des droits de douane am\u00e9ricains sur les importations canadiennes, pond\u00e9r\u00e9 en fonction des \u00e9changes commerciaux, de 5,3 % \u00e0 7,7 %. En r\u00e9action \u00e0 ces nouveaux droits de douane, le Canada a relev\u00e9 le taux \u00e9quivalent applicable aux importations en provenance des \u00c9tats-Unis de 1,6 % \u00e0 3,0 %."}},{"content":{"en":"PBO estimates that the combined Canada-U.S. trade measures introduced since early 2025 will reduce the level of Canada\u0027s real GDP by 1.4 per cent after five years, relative to a pre-tariff baseline in which the bilateral trading relationship remains at 2024 levels. This tariff impact has been factored into PBO\u2019s wider [Economic and Fiscal Outlook, October 2026](https:\/\/www.pbo-dpb.ca\/en\/publications\/RP-2627-011-S--economic-fiscal-outlook-october-2026--perspectives-economiques-financieres-octobre-2026) released today.","fr":"Le BDPB pr\u00e9voit que les mesures commerciales combin\u00e9es adopt\u00e9es par le Canada et les \u00c9tats-Unis depuis le d\u00e9but de 2025 r\u00e9duiront de 1,4 % le niveau du PIB r\u00e9el du Canada au terme de cinq ans, par rapport \u00e0 un sc\u00e9nario de r\u00e9f\u00e9rence ant\u00e9rieur aux droits de douane, dans lequel les relations commerciales bilat\u00e9rales demeurent aux niveaux de 2024. Cette incidence des droits de douane est prise en compte dans les [Perspectives \u00e9conomiques et financi\u00e8res d\u2019octobre 2026](https:\/\/www.pbo-dpb.ca\/fr\/publications\/RP-2627-011-S--economic-fiscal-outlook-october-2026--perspectives-economiques-financieres-octobre-2026) du BDPB, publi\u00e9es aujourd\u2019hui."}},{"content":{"en":"Actual trade outcomes reflect a range of factors beyond tariff policies, including commodity prices, global growth and adjustments by exporters. Recent data indicate stronger export performance as of Q2 2026 relative to what might be expected from a bilateral tariff analysis alone.","fr":"Les r\u00e9sultats commerciaux observ\u00e9s d\u00e9pendent toutefois d\u2019un \u00e9ventail de facteurs autres que les politiques tarifaires, notamment les prix des produits de base, la croissance \u00e9conomique mondiale et la capacit\u00e9 d\u2019adaptation des exportateurs. Selon les donn\u00e9es r\u00e9centes, les exportations ont affich\u00e9 une performance plus vigoureuse au deuxi\u00e8me trimestre de 2026 que ce qu\u2019aurait laiss\u00e9 pr\u00e9voir une analyse fond\u00e9e uniquement sur les droits de douane bilat\u00e9raux."}}]},"updated_at":"2026-10-20T12:57:07.000000Z","type":"NT","slug":"NT-2627-014-S--economic-fiscal-outlook-assessment-note-economic-impact-recent-canada-us-trade-measures--note-evaluation-perspectives-economiques-financieres-incidence-economique-recentes-mesures-commercia","permalinks":{"en":{"website":"https:\/\/www.pbo-dpb.ca\/en\/publications\/NT-2627-014-S--economic-fiscal-outlook-assessment-note-economic-impact-recent-canada-us-trade-measures--note-evaluation-perspectives-economiques-financieres-incidence-economique-recentes-mesures-commercia","preview":"https:\/\/www.pbo-dpb.ca\/en\/publications\/NT-2627-014-S--economic-fiscal-outlook-assessment-note-economic-impact-recent-canada-us-trade-measures--note-evaluation-perspectives-economiques-financieres-incidence-economique-recentes-mesures-commercia"},"fr":{"website":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/NT-2627-014-S--economic-fiscal-outlook-assessment-note-economic-impact-recent-canada-us-trade-measures--note-evaluation-perspectives-economiques-financieres-incidence-economique-recentes-mesures-commercia","preview":"https:\/\/www.pbo-dpb.ca\/fr\/publications\/NT-2627-014-S--economic-fiscal-outlook-assessment-note-economic-impact-recent-canada-us-trade-measures--note-evaluation-perspectives-economiques-financieres-incidence-economique-recentes-mesures-commercia"}},"artifacts":{"main":{"en":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/f5447819fee708ad603a855d196c2c8865ca90809cb21a70999cff60c62fe7ca"},"fr":{"public":"https:\/\/distribution-a617274656661637473.pbo-dpb.ca\/f1ed3f68323670359efa2dcbe1b6a4fa1ea5e39d83e29d2a52f1d27e7096cfc5"}}},"coverpages":{"distribution":{"fr":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/e42b1bbf8ca0eb12f67290c7970cb5fab8075cfc7985420ec1ca6d6be267f8b0","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/674657092f612be9c6c3b4990d583523a28129a77bbf0e5af00fc205b084f107","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a95f8d16db467c264b86a083bf2015343a2c72dcb4f1989369900fd7b373e996","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/b9356a4e3df8602700172e5141947ec50811aea983cfa4a455f51724179255e9","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0b96b137a401f9e1693fe2dd2c680bc37f60c4d2352376212ef336f37c600d0a","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/a79a13f12d6a746525a78c1e102fd8a990a96d1136072795524a504bb1d72fdf","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/bc30cff5d5889c0eb4f815cae1886622361e24907a99b838b7c091d5cda7a561","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/ea017488252e1fd4b8c4449b201c758871220184d6727a3332b5bf1fef0be103"},"en":{"small":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/c8e69a9228fb50155db8b6d2273d94231381b81c992b88aafb6380d1d6fafd7e","large":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7adbf3d0c50a6935b32487a4bb249c4859ab7a61da7cb58758aaa46efd64536e","h150_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8ba5952027bc22eb84677137bff329e5a1032fc89f78de3940397ceb1676cf0f","h150_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/7082cdfc9590b894e5b1de42f76a70f2a79cb10f369dcb36420d41fceeed9832","h300_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/0baf400635a151cbdba36f73780f78ef199a394132fa49e2cd212b93e9e18bf8","h300_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/18c58214df43c5c1b3c16f2f6aaa0d311c8b873a33a4c9fbe0b1ef60c4b4ce84","h600_png_optimized":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/8b5dda27a864d3601da16e2409906f86ab927efe103c3d0ea57abf81e6dcf7f4","h600_webp":"https:\/\/distribution-i696d61676573.pbo-dpb.ca\/043ddcf5ce6619084ea50bf677f45be209464f96eca9a271313639f2503dca0e"}}},"quotes":[],"bills":[],"labels":[],"bibtex":{"en":"@techreport{PBO-NT2627014S,\n author={Scholz, Tim},\n title={Economic and Fiscal Outlook Assessment Note - Economic Impact of Recent Canada-U.S. Trade Measures},\n institution={The Office of the Parliamentary Budget Officer},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}","fr":"@techreport{DPB-NT2627014S,\n author={Scholz, Tim},\n title={Note d\u2019\\\u0027{e}valuation sur les Perspectives \\\u0027{e}conomiques et financi\\`{e}res - Incidence \\\u0027{e}conomique des r\\\u0027{e}centes mesures commerciales entre le Canada et les \\\u0027{E}tats-Unis},\n institution={Bureau de la directrice parlementaire du budget},\n year=2026,\n \n address = \u0022Ottawa, ON\u0022\n}"}}