Canada does not see new stimulus despite tepid growth

OTTAWA Jan 16 (Reuters) - Canada's Conservative government does not expect to launch a new round of stimulus despite the possibility of weaker-than-expected growth in the first quarter, Finance Minister Jim Flaherty said on Wednesday.

"I don't see the need for it, quite frankly. I think we have adequate economic growth, and I think the prospects for stronger economic growth later in the year and next year are good," Flaherty told a news conference.

Modest growth is sufficient for the federal government to balance the budget during the course of the current Parliament, which means before the October 2015 general election, he said.