Finance Department trims longterm deficit projections after year of growth
OTTAWA – The federal Finance Department has shaved several years of projected deficits from Canada’s long-term financial future following better-than-expected economic growth in 2017 — though many more years of deficits remain.Finance officials predicted in a report released Friday that barring any policy changes, the federal government could be on track to run annual shortfalls until 2045-46, compared to projections last year that deficits would run to 2050-51.If such a scenario played out, the deficit would reach an annual high of $24.8 billion around 2030-31 before beginning to fall.By 2040-41, the federal debt would top out at around $1.08 trillion before starting to fall, as compared to last year’s prediction that it would reach $1.55 trillion by 2050-51.The improvement is attributed to an overall boost in the fiscal outlook, particularly in the medium term, which comes after the Canadian economy mounted a surprise resurgence over the past 12 months.While long-term predictions contain considerable uncertainty, Finance Minister Bill Morneau nonetheless said the projections prove the Liberal government’s plan is bearing fruit.“We have an ambitious plan to grow Canada’s economy by investing in people, growing the middle class and helping those working hard to join it,” Morneau said in a statement Friday. “Our plan is working.”The Liberals won the 2015 election on a plan to spur economic growth by running annual deficits of no more than $10 billion over the first couple years to pay for infrastructure investments before balancing the books in 2019-20.But they abandoned those so-called “fiscal anchors” as the economy took a beating from collapsing oil prices in 2016, and have instead focused on lowering the debt-to-GDP ratio, which is a measure of Ottawa’s debt burden.The Liberals have not set a timeline for a return to balance.The Opposition Conservatives wasted no time latching onto Friday’s report to further their argument that the Liberals are leaving a legacy of debt.“Justin Trudeau will be a 74-year-old man relaxing on a private island before the budget is balanced,” Conservative finance critic Pierre Poilievre said in a statement.“He is leaving the next generation with the bill for his reckless spending and the only way he can pay that bill is by raising taxes.”The Finance report emphasized investments in skills and technology as it warned that Canada’s aging population will contribute less to the economy and instead become a drain on public finances in the coming years.That warning largely explained why the GDP was projected to see slower growth between 2023-2055 than in previous decades, going back to 1950.“It is therefore imperative to continue to grow the economy by investing in the middle class and in the skills and technology that will make Canada more productive, competitive and fair,” the report read.“In particular, improving the economic participation of groups traditionally under-represented in the labour market, including women, Indigenous people, older workers, newcomers and persons with disabilities, is key to Canada’s long-term fiscal and economic performance.”— Follow @leeberthiaume on Twitter.
Medical students at the University of The Gambia have outlined problems they are facing which are causing delays in the completion of their courses. In a press release issued yesterday they focused on the delays in the departure and arrival of Cuban lecturers which has resulted in the course taking eight years to complete instead of seven. They say despite all their efforts, the problem still persists. Below is the full text of the release:It is without doubt that medical students will make up the core of our country’s health system in the near future. Therefore, prioritizing medical education is empirical in improving the health of the people of our beloved nation, The Gambia. Any factor which interferes with effective medical education is leaving the future of our country to chance.For years we have been faced with a number of problems as medical students, the most distressing being delays. This hindered effective medical education and is accumulating with increasing intensity and led to a build-up of frustration. For over three years, whenever it comes to the holidays of our Cuban lecturers, they would either not leave on time for their holidays or leave and not come back on time. The consequence of which is the time in which they are away added to our 7-year program. For instance, the batch that just graduated spent over 8 years in medical school. If this problem isn’t solved now, there is a high chance that this might reoccur. Last year, the Cubans stayed away for about 8 months which led to a peaking of our frustration. As a result, we formed an ad hoc committee to consult with the necessary stakeholders and come up with an amicable solution.Several attempts were made to contact all the authorities involved but some of the calls remained unanswered. A persistence of the problems led to a press conference in February this year which resulted in a meeting with the University authorities, relevant ministries and other stakeholders. The meeting was convened and orchestrated by the University of The GambiaStudents Union (UTGSU) and the Ministry of Higher Education, Research, Science and Technology (MQHERST). The Ministry of Health and Social Welfare (MoHSW), the body primarily responsible for the going and coming of the lecturers were present at that meeting. Several promises and propositions were made so as to prevent the problem from recurring.Over the past months, a series of follow ups were made, both formal and informal, to ensure that the relevant authorities see to it that the problem is prevented. However, to our dismay, it would seem things are not going as planned and history is repeating itself. Presently, three dates for the departure of the Cuban lecturers were given and none proved to be fruitful. To show our utmost dissatisfaction, we staged a peaceful protest marching from the arch to the quadrangle on Thursday 13th December 2018. As medical students of the University of The Gambia, we have only one demand.“LET OUR CUBAN LECTURERS GO FOR THEIR HOLIDAYS AND COME BACK ON TIME.”Foroyaa will get in touch with the authorities to get their comments on the matter.
Honda RidgelineAgain keeping the status quo, the Honda Ridgeline maintains third place on the American Made Index. This crossover-that-looks-like-a-truck provides a better ride than a traditional pickup and gets an awesome lockable trunk right in the floor of the bed. And it doesn’t do the truck stuff too badly, either, as it’s able to carry 1,860 pounds of payload and tow 3,500 pounds.The Ridgeline is powered by a 3.5-liter V6 good for 280 horsepower and 262 pound-feet of torque. That is channeled through a six-speed automatic transmission with available all-wheel drive. It’s built in Lincoln, Alabama. 2019 Chevy Colorado ZR2 Bison: An off-road animal 7:53 2020 Kia Telluride review: Kia’s new SUV has big style and bigger value 49 Photos Chevrolet CorvetteMoving up from the 10th-place slot last year is the 2019 Chevrolet Corvette. While we’ve all been ogling the new mid-engine Corvette, it’s easy to forget what a performance bargain the current-generation ‘Vette is. From the base trim to the Grand Sport to the bonkers ZR1, the Corvette is an American icon.My preference is for the Grand Sport, which strikes a perfect balance between everyday drivability and canyon-carving performance. The 6.2-liter V8 puts out 460 horsepower and 465 pound-feet of torque. You can get it with a seven-speed manual or eight-speed automatic transmission, but the kicker is the borrowed chassis and aero parts from the beefier Z06. Like I said, perfect balance. The Corvette is made in Bowling Green, Kentucky. Enlarge ImageFact: Bronze or gold wheels make any car at least 200% better. Don’t @ me. Toyota How do you renew interest in a car that’s slowly approaching the point in its life where replacement might be in the cards? It’s easy: Just make a special edition that’s so pretty, it’s hard not to heap praise on it. That’s the 2020 Toyota 86 Hakone Edition, and as it turns out, it’s not too expensive.The 2020 Toyota 86 Hakone Edition will cost $30,825 including destination, CarsDirect reports, citing Toyota’s latest pricing documents. Given that the 86’s base price for the 2020 model year is $27,850 (also including destination), that means the Hakone Edition upgrade is just $2,975. Bear in mind, that cost is for one with a manual transmission; adding an automatic adds $720 to the bottom line.While that might seem like a lot for an appearance package, it’s pretty comprehensive. On the outside, it comes with green metallic paint, a rear deck spoiler and unique 17-inch bronze wheels. Inside, the seats rock a tan-and-black motif with Alcantara suede elements, a similarly colored armrest and a stitched 86 logo on the dashboard itself. Tan stitching extends to the steering wheel, shift boot and parking brake. The Hakone Edition gets its name from the Hakone Turnpike, a twisty driving road that’s earned its fair share of notoriety. Given that the 86 offers one of the purest, most stripped-down driving experiences available in a small car, I say the name fits.Underneath the appearance package, the 2020 Toyota 86 is the same as it ever was. Under the hood is a 2.0-liter four-cylinder engine that puts out 205 horsepower with a six-speed manual transmission, or 200 hp with a six-speed automatic. The car is shared with Subaru, which sells it as the BRZ, packing a few more creature comforts (and a slightly higher window sticker) than its Toyota-based brethren. 2020 Hyundai Palisade review: Posh enough to make Genesis jealous Honda PassportThe Honda Passport is a new (well, reborn) entry to both the Honda lineup and the American Made Index. This midsize crossover comes to the fray with great driving dynamics and plenty of tech like the standard Honda Sensing suite of active safety features. An available 8-inch touchscreen gets Apple CarPlay and Android Auto as well as a Wi-Fi hotspot.Under the hood is the stalwart 3.5-liter V6 producing 280 horsepower and 262 pound-feet of torque. However unlike the Ridgeline, the Passport sends that power through a nine-speed automatic transmission. Having said that, just like the Ridgeline, this is the only powertrain available. The Honda Passport is built in Lincoln, Alabama. 2020 BMW M340i review: A dash of M makes everything better Honda PilotDropping down to seventh place for 2019 is the Honda Pilot. Like its two-row Passport sibling, the three-row Pilot offers parent-focused technology like Cabin Talk as well as myriad standard driver-assistance features through the Honda Sensing tech suite. Honda’s largest crossover offers up nearly 84 cubic feet of cargo space. Honda’s 3.5-liter V6 engine shows up again, making a serviceable 280 horsepower and 262 pound-feet of torque. Touring and Elite trims get a nine-speed automatic transmission while lower trims have to make do with a six-speed auto. The Honda Pilot is made in Lincoln, Alabama. 2019 Acura MDX adds new features and an A-Spec model Post a comment 20 Photos 2019 Acura RDX A-Spec: Sharp handling, sharper looks Tags Take a master class in drifting in the Toyota 86 Now playing: Watch this: Coupes Sports Cars Jeep CherokeeKeeping its top-of-the-list placement, the Jeep Cherokee is 2019’s most American-made car. Refreshed for 2019, the compact crossover now features more tech, better cargo space and a slightly tweaked look. It’s available in no fewer the nine trims, including the off-road specific Trailhawk and a fancy-pants Trailhawk Elite.For 2019, the Cherokee gets a new 2.0-liter, turbocharged, four-cylinder engine with 270 horsepower and 295 pound-feet of torque, though naturally aspirated I4 and V6 choices are also available. Regardless of engine, a nine-speed automatic transmission gets the power to the pavement — or dirt as the case may be. The Cherokee is made in Belvidere, Illinois. 0 18 Photos 52 Photos 2019 Honda Ridgeline: The commuter’s pickup truck Share your voice Tags 71 Photos 26 Photos Car Industry Toyota,Enlarge ImageIt’s all in a day’s work for the Jeep Cherokee, the most American-made car in 2019. Jeep With high trade tensions looming and increasing talk of tariffs, more and more consumers are looking to buy American. Cars.com has released its annual American Made Index, showcasing companies that use the most American-sourced parts and labor in their vehicles. The results may surprise you.Cars.com analyzed more than 100 US-built vehicles for five key data points: manufacturing location, parts sourcing, US employment, engine sourcing and transmission sourcing. You might think something like the Ford F-150 would top the list, but it drops from its No. 5 spot for 2018 and out of the top 10 completely. Even the first-place holder, the Jeep Cherokee, is a pretty global product. It’s a Jeep, sure, but that brand is part of Fiat Chrysler Automobiles, an Italian-owned business.Cars.com surveyed 1,000 people and found that half are concerned about automotive import tariffs, with 41% saying they are unsure if tariffs would make them more likely to buy American. Either way, we’re big fans of all the vehicles on this list. These days, buying American doesn’t necessarily mean sticking with a US-based automaker. 69 Photos General Motors Chevrolet Honda Jeep Acura GMC CanyonIf you’re looking for a slightly fancier version of the Colorado that’s more focused on luxe than dirt, check out the GMC Canyon. The top Denali trim gets standard heated and ventilated front seats as well as a heated steering wheel. Maximum payload capability is 1,665 pounds while max towing is a fairly healthy 7,600 pounds.The Canyon is available with the same 2.5-liter four-cylinder engine, 3.6-liter V6 or 2.8-liter diesel as the Chevrolet Colorado. It’s also built in Wentzville, Missouri. Toyota’s 2020 86 Hakone Edition is green, bronze and gorgeous 2019 Honda Passport: A well-rounded midsize offering 2019 Honda Pilot Elite: A smoother, tech-rich crossover SUV Chevrolet ColoradoMaking its debut in the top 10 is the Chevrolet Colorado. Shown here in the tough ZR2 Bison off-road spec, the Chevy Colorado is an excellent truck and one of the two midsize pickups you can get with a diesel engine. Adding to the ZR2’s two-inch lift and front and rear locking differentials, the Bison gets beefier skid plates (trust me, that’s a good thing), steel bumpers and integrated recovery points. Heck, you can even get a snorkel.Base models get a 2.5-liter four-cylinder engine with a six-speed manual transmission, but a more popular choice is the 3.6-liter V6 gas engine with 308 horsepower and 275 pound-feet of torque, mated to an eight-speed automatic transmission. Meanwhile, the 2.8-liter diesel pumps out 186 horsepower and a delicious 369 pound-feet of twist and is mated to a six-speed automatic. The Chevy Colorado is built in Wentzville, Missouri. 12 Photos 2019 Honda Odyssey offers plenty of room and features for families 2019 Chevrolet Corvette Grand Sport loves to hustle Toyota 2019 GMC Canyon: A fancier Colorado 81 Photos 68 Photos Honda OdysseyThe feature-rich Honda Odyssey minivan also retains its number-two slot from last year’s list. While the 2019 model doesn’t see any changes from last, it’s still a darn good choice for families on the go with reconfigurable seats, Wi-Fi and an excellent rear-seat entertainment system. The Cabin Watch video system lets parents keep an eye on their little darlings without turning around in their seats, while Cabin Talk amplifies their voice so no yelling is required.The Odyssey is powered by a 3.5-liter V6 rated for 280 horsepower and 262 pound-feet of torque. Most trims get a nine-speed automatic but the top Touring and Elite trims now use a 10-speed automatic with stop-start technology. The Honda Odyssey is made in Lincoln, Alabama. 2019 Chevrolet Colorado ZR2 Bison: A tougher off-roader Acura RDXThe third-generation Acura RDX squeaks into the top ten list with larger proportions, plenty of interior space and better handling than its predecessor. Forward collision warning with collision mitigation braking, adaptive cruise control that works even in low-speed traffic, lane-keeping steering assist and road departure mitigation are all standard across the board. Like its MDX counterpart, the RDX is available with the A-Spec styling package.The RDX sports a 2.0-liter, turbocharged, four-cylinder engine. Output is stated at 273 horsepower and 280 pound-feet of torque, and it’s mated to a 10-speed automatic transmission. The new RDX is built in East Liberty, Ohio. More From Roadshow 2019 Honda Ridgeline review: Light duty, heavy punch Acura MDXMoving up one slot to sixth place on the American Made Index is the non-hybrid variant of the Acura MDX. With its SH-AWD system, the MDX is one of the better handling midsize luxury crossovers, and for 2019 the company gives us the A-Spec treatment with a new front fascia and side skirts, 20-inch wheels, wider exhaust tips, unique gauges, a new steering wheel, carbon fiber trim and various Alcantara interior touches.However, both the standard and A-Spec models get a 3.5-liter V6 engine, rated for 290 horsepower and 267 pound-feet of torque going through a nine-speed automatic transmission. The Acura MDX is made in East Liberty, Ohio. 2019 GMC Sierra Denali review: So close to greatness Share your voice 3 Comments More From Roadshow 2019 Jeep Cherokee can handle the rough stuff 10 Photos
Facebook Comments The National Federation of the Fishing Sector (FENAPES) and the Costa Rican Fisheries Federation (FECOP) launched a campaign this week to collect signatures in support of a proposal to regulate tuna seine-fishing within 370 nautical miles of the country’s maritime territory.Under the slogan “Tico Tuna for Tico Fishermen,” the campaing calls on the government to issue an executive order establishing a six-year moratorium allowing artisanal fishermen to work without direct competition from industrial seine fleets within the proposed area, which is part of Costa Rica’s Exclusive Economic Zone.Data released in June by the Inter-American Tropical Tuna Commission show that the international tuna fleet captured 253,000 tons of tuna within the country’s EEZ from 2002 to 2011.FECOP Executive Director Enrique Ramírez said Costa Rican waters currently offer a potential catch of 25,000 tons of tuna per year, “and most – 90 percent – is taken to other countries, mainly Ecuador.”FENAPES and FECOP representatives said the proposal would be a first step in promoting “sustainable” tuna fishing aimed at recovering marine resources in Costa Rica’s Pacific waters.The proposed regulations also would help some 15,000 families who depend on artisanal tuna fishing, as well as the tourism, sport fishing and environmental interests, Ramírez added.International seine-fishers catch 18 times more fish than than national fleet, and their fishing devices “affect other species such as dolphins, manta rays, sailfish and marlin, among others,” FENAPES and FECOP said.In August, Costa Rica banned shrimp trawling after the Constitutional Chamber of the Supreme Court, or Sala IV, ruled that the fishing technique causes serious damage to the marine environment.Those interested in signing the petition can go to the campaign website at: http://firmas.fecop.orgWatch a video for the campaign here (Spanish only): No related posts.
TripAdvisor has upgraded its destination pages and revealed a new initiative that allows tourism boards and Destination Management Organisations (DMOs) to customise their content. The new ‘Premium Destination Partnership’ is available to all DMOs worldwide, enabling them to self-manage their destination content on the travel site.There are three sections that can be controlled: ‘Collections’, which provides lists of hotels, restaurants and attractions; ‘Articles’, which allows DMOs to create travel information for potential visitors; and ‘Events’, which offers information about upcoming events in the destination.The DMO-supplied content will run alongside TripAdvisor’s existing user-generated content and booking tools that are already available on its destination pages. DMOs participating in the programme will be offered access to a new dashboard that offers information about the performance of the content, as well as the campaign’s impact on tourism to their destination. Premium Destination Partnerships are now available in 28 languages.
The Natural Gas Public Company (Defa) on Tuesday invited expressions of interest for the supply of liquefied natural gas (LNG) to import facilities currently under development at the Vasilikos area.Defa, by law the sole importer of natural gas, said it is inviting “prospective LNG suppliers to express an interest in supplying LNG to the LNG Import Terminal.“Prospective LNG suppliers who respond… must fulfil several pre-qualification requirements in order to be added to Defa’s list of pre-qualified LNG suppliers.”The statement added that Defa intends to procure its LNG requirements through a combination of medium and long-term supply via one or more LNG Sales and Purchase Agreements, and supplemental cargos via multiple Master Sales Agreements and a bidding process.The deadline for submissions of interest is September 6, 2019. The documents are available to interested parties through the governmental portal for Public Procurement Processes (www.eprocurement.gov.cy).Inviting bids for the supply/purchase of the actual fuel is the second part of the project to import LNG for electricity generation purposes.The project has been broken up into two separate tenders: one for the infrastructures (receiving facilities, a floating re-gasification unit, storage) and one for the purchase of natural gas.The first tender concerning the infrastructures was already running.Speaking to the Cyprus Mail a few months ago, industry sources said it was odd that the infrastructures tender was launched before the process for acquiring the natural gas itself.At the very least, they said, the two tenders should have been running concurrently.That is because the final cost of generating electricity from natural gas will include both the cost of the infrastructures as well as the fuel costs. The stated goal of importing LNG is to bring down the cost of electricity.The cost of the infrastructures alone is estimated at €300m, while another €200m will be spent on operation and maintenance over a 20-year period. Among the €300m are included the €101m in European Union co-funding.According to energy analyst Charles Ellinas, Defa’s plan to import LNG will prove to be costly.He has argued that by the time the gas arrives at the Electricity Authority of Cyprus (EAC) not only it will have to pay for the cost of imported LNG but also for the recovery of the cost to build and operate the necessary installations – floating storage regasification unit, gas storage and regasification, jetty, port facilities, as well as the profit.Cypriot authorities have meanwhile snubbed a separate offer made by Greek energy company Energean (outside the Defa tender) which, according to Ellinas’ calculations, could result in substantial savings.Recently Energean updated its offer to supply gas to Cyprus by pipeline by March 2021 from its gasfields Tanin and Karish in Israel. You May LikePopularEverythingColorado Mom Adopted Two Children, Months Later She Learned Who They Really ArePopularEverythingUndoLivestlyChip And Joanna’s $18M Mansion Is Perfect, But It’s The Backyard Everyone Is Talking AboutLivestlyUndoSmart Tips DailySeniors With No Life Insurance May Get A $250,000 Policy If They Do ThisSmart Tips DailyUndo Concern over falling tourism numbersUndoPensioner dies after crash on Paphos-Polis roadUndoCypriot tycoon launches ‘Bank of Cannabis’Undoby Taboolaby Taboola