Article content

As the International Monetary Fund cuts its global forecast for the next two years and warns of more fallout from Brexit, Canada is projected to emerge as a dark horse among the world’s advanced economies — at least in the short term.

The IMF predicts Canada will bounce from being the third-slowest-growing G7 economy in 2016 to be second strongest — behind only the U.S. — in 2017, according to an outlook released Tuesday, which revised projections from the Washington-based organization’s last report in April.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Canada the G7 dark horse as IMF projects improved growth in 2017 Back to video

Unlike Germany, Italy, France, the U.K. and the U.S. — all of which were revised downward or remained the same — the IMF increased Canada’s 2017 growth in the revision by 0.2 per cent to 2.1 per cent.

“The IMF expects an improved outlook of the oil market and the commodity market for producers and this translates to a better outlook for Canada next year,” said Domenico Lombardi, director of the Global Economy Program at the Centre for International Governance Innovation in Waterloo, Ont.