Premier To Meet With Canada's Leading Economists

Premier Rodney MacDonald and Finance Minister Michael Baker will meet today, Nov. 17, with economic forecasters from Canada's Banks as well as the Atlantic Provinces Economic Council (APEC) and the Conference Board of Canada.

"We are bringing together some of the country's top economists so we can hear their thoughts and suggestions regarding the impact of the world economic slowdown on Nova Scotia," said Premier MacDonald. "These experts are keenly aware of what is happening in Canada and around the world, and I look forward to the advice they may offer."

The Finance Department will release a budget forecast update by the end of December that will include an official updated economic forecast. Advice from private-sector forecasters is one of the elements that goes into economic updates.

"We are still gathering all the information from various sources so we can provide the best possible information for Nova Scotians," said the premier. "We know oil and natural gas prices have dropped, so that will have an impact, and some sectors are seeing exports slow down.

"On the other hand, employment is up. When we have the necessary information and input, we will release the budget forecast update. That will be done before the end of the year."

Attending today's meeting are:

• Avery Shenfeld, managing director and senior economist, CIBC World Markets
• Glen Hodgson, vice-president and chief economist, Conference Board of Canada
• Pedro Antunes, director of forecasts, Conference Board of Canada
• Pascal Gauthier, economist, TD Bank
• Mary Webb, senior economist, Scotia Capital
• Sal Guatieri, economist and financial markets forecaster, BMO
• Robert Hogue, senior economist, RBC
• David Chaundry, chief economist, APEC

Mr. Guatieri, Mr. Hodgson and Mr. Antunes will join the meeting via conference call.

This is the latest in a series of consultations Premier MacDonald has hosted in light of the challenges with the global economic situation. In recent weeks, the premier has met with the Canadian Federation of Independent Business, the Halifax Chamber of Commerce and the Nova Scotia Chambers of Commerce.

"We are fortunate to have a wealth of financial and economic knowledge in Nova Scotia and Canada," the premier said. "With the co-operation of government, business leaders and everyday, hardworking Nova Scotians, I know that we will get through whatever difficulties may lay ahead."

The meeting will begin after noon and is expected to last several hours.