Eighty per cent of the money dedicated to stimulus spending by the federal goverbment has been rolled out across the country, Prime Minister Stephen Harper said Thursday.

Harper provided an update on the federal government’s progress in combating the global recession by implementing initiatives to stimulate the economy and create jobs.

“In just 72 days, our government has 80% of the largest economic recovery program in Canadian history underway,” said Harper in Cambridge, Ont.

Harper released the second report to Canadians on the government’s economic action plan.

The report highlights that Canada continues to be in the strongest financial position of any G7 country, even with these historic investments.

As a result of the stimulus measure and the global recession, the federal deficit is now projected to be $50.2 billion in 2009-10, reflecting lower tax revenues, higher Employment Insurance benefit payments and additional measures to stabilize the auto sector.

Specific initiatives will continue to roll out over the two-year time frame spelled out in the plan.

IE