Abstract. In the year 2013, Canada’s internal political situation and its main economic indicators looked better than those of most other major advanced economies. However, the real GDP growth of about 1.7 per cent was lagging far behind the expected 2.3—2.5 per cent. This happened due to both unfavorable developments in the global economy and the weakening of internal drivers of the business activity. Domestic economic policy was focused on eliminating the federal budget deficit by the year 2015 while trying to avoid stagnation. Crucially important for the country’s positions in the world economy and politics were negotiations on the Comprehensive Economic and Trade Agreement (CETA) with the European Union.