National Bank Says Quebec Economy Must Meet Canada Growth

National Bank of Canada Chief Executive Officer Louis Vachon said Quebec must prove its economy can grow at the same rate as the country’s if it wants to improve a deteriorating business climate.

“The long-term consensus is that Quebec is condemned to grow slower than the rest of the country for the next 10 years,” Vachon, 51, said today at the Montreal-based firm’s annual meeting in Calgary. “It should be a priority for any Quebec government to prove the consensus wrong and to show that we can grow, at least at the Canadian average. And I think that’s feasible.”