The federal finance minister will report on the state of Canada’s economy Monday, an unusual step with the budget not far away. Bill Morneau will explain how much the economy has changed since the government set out its fiscal plans in November; oil prices have fallen further, global growth has slowed, the US dollar has strengthened and equities have dropped in the three months since.

With economists including the OECD downgrading Canada’s growth outlook for 2016, the minister is likely to focus on spending plans, especially in infrastructure, softening the blow of an increasing deficit, and rising household debt and house prices.