delivered his fall economic statement Wednesday

. Here are the highlights of his fiscal update:

Growth: 2 per cent forecast next year (up from 1.6) — and slightly higher inflation.

Unemployment rate: 5.8 per cent next year, down from 5.9.

Projected deficit: $18.1 billion for current fiscal year.

Revised 2017-2018 deficit: $19 billion, down $0.9 billion.

Debt: Expected to grow by $96.7 billion to $765 billion by 2023-24.

Debt-to-GDP ratio projected to fall each year, to 28.5 by 2023-24.

New measures announced today: $17.6 billion over 6 years.

Trade: Infrastructure spending moved up and other measures to promote trade. The goal is to 

Read the full 2018 Fall Economic Statement (PDF)

Liberals deepen federal deficit in response to Trump tax cuts

The Liberal government is spending billions to help corporate Canada compete with the U.S. and to prop up struggling news organizations - showing a willingness to go deeper into deficit with no timeline to return to a balanced budget.

Finance Minister Bill Morneau delivers the fall economic update in the House of Commons, in Ottawa on Wednesday, Nov. 21, 2018.

Cda Fiscal 20181121

Finance Minister Bill Morneau, centre, presented his fiscal update Wednesday, outlining new budgetary measures in his fall economic statement.

Fall economic statement sets target of 50 per cent export growth by 2025

Finance Minister Bill Morneau's Fall Economic Statement puts more money where the Trudeau government's mouth is on its trade diversification strategy, in an attempt to nudge more businesses into pursuing export markets beyond the United States.

Canadian Finance Minister Bill Morneau, right, speaks next to International Trade Diversification Minister Jim Carr at the first China-Canada economic and financial strategy dialogue in Beijing, China, Monday, Nov. 12, 2018. 

China Canada

Finance Minister Bill Morneau, right, joined International Trade Diversification Minister Jim Carr in Beijing earlier this month for the first "China-Canada economic and financial strategy dialogue." Diversifying Canada's trade relationships is part of Morneau's economic strategy in the face of uncertainty in the U.S.

Morneau's update bolsters struggling media with $600M in tax measures

The federal government is stepping in to help the struggling Canadian media industry with new tax credits and incentives valued at nearly $600 million over the next five years.

Postmedia Network Canada Corp. owns major daily newspaper across Canada, including the Edmonton Journal and the Edmonton Sun. 

Postmedia

Finance Minister Bill Morneau says the Liberals' investments will protect the vital role independent news media have in Canadian democracy.

Support for Journalism: Charitable status for non-profits, local news tax credit and tax deduction for subscriptions.

Francophone media: $14.6 million over 5 years to create digital platform for TV5Monde, a channel created by French-language public broadcasters.

Strategic Innovation Fund: Additional $800 million over 5 years, including $100 million for forestry sector.

Social Finance Fund: $755 million over 10 years to help charities and non-profits fund social projects.

Wild fish stocks: $202 million more over 5 years to support sustainability.&nbsp;

Nutrition North: $62.6 million over 5 years and $10.4M per year after that for food security program.

Avalanche Canada: $25 million one-time endowment to promote avalanche safety.

Morneau's fiscal update to the House, with oppostion reaction

Vassy Kapelos hosts special coverage of the Fall Economic Statement on CBC News Network's 

, starting at 5 p.m. ET on CBC News Network. 

Finance Minister Bill Morneau holds a press conference in the media lockup for the fall economic update, in Ottawa on Wednesday, Nov. 21, 2018.

Highlights of Bill Morneau's 2018 fiscal update

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