Canadian Deputy Prime Minister Chrystia Freeland said Monday that while the country faces some “difficult months ahead” as economists have forecast the country is headed toward a recession in the early part of 2023, she is confident that the government will be able to lessen the blow for many Canadians.

Freeland added that Canada is in “the final act of the COVID recession” as Canadians face rising inflation and higher interest rates.

“I am really confident in the resources the government is going to be able to bring to bear to support Canadians getting through it,” she said.

The International Monetary Fund (IMF) said in a report released last week warned of substantial cooling and a possible recession in Canada, while RBC has said Canada is headed for a mild recession in early 2023.

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