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The region’s urban-rural divide has grown again this year.
The Atlantic Provinces Economic Council says employment in Saint John, Moncton, Fredericton, Halifax, Charlottetown and St. John’s grew 0.5% this year while rural employment dropped 2%. The think-tank is also predicting Maritime GDP increases of 0.8% for New Brunswick, 1.4% for PEI and 1% for Nova Scotia next year.
The Trudeau Government is setting up an experimental infrastructure bank to help revive the economy.
Finance Minister Bill Morneau, in his economic statement yesterday, said growth has been slower than they expected and that’s hurting the bottom line and the deficit. Morneau says they have a cure however with this lending institution which they hope will bring in billions in foreign capital.