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Article: Royal Bank of Canada executive speaks on Canadian economic recovery.
- Article from:
- PR Newswire
- Article date:
- January 12, 1984
CopyrightCOPYRIGHT 1984 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MONTREAL, Jan. 12 /PRNewswire/ -- A full and vibrant economic recovery in Canada will require a sharp drop in public sector deficits, Rowland C. Frazee, chairman and chief executive officer of the Royal Bank of Canada, said here today.
He told the bank's 115th annual meeting that "the big engine, business investment, the driving force of a sustained and sustainable recovery, has yet to move into high gear" in Canada and that more room needs to be created for major new business spending by sharply reducing public deficits. "Over the next decade," he said, "we have the prospect of very large capital and investment demands -- investment ...