The economic crisis caused by the pandemic will leave long-lasting scars for many Canadian industries and take a heavy toll on the finances of governments at all levels.
The COVID-19 pandemic has already taken a massive toll on the Canadian and global economies. The government response has been unprecedented, with a quick rollout of fiscal and monetary policy measures that have bolstered household incomes, supported wages and provided cheap credit to households, businesses and governments.
The hope now is that economic activity in Canada will recover more fully over the second half of 2021, once a vaccine rollout is fully underway.
However, getting to the end of next year will be difficult for many businesses and households, and support programs will continue to drain the coffers of the federal and provincial/territorial governments. # SANDI HALPERN # LEASED # ECONOMY
Post a comment