The Top Socio-Economic Trends Shaping Canada in 2024. This is the second part of the series discussing all aspects related to Canada for 2024.
Table of Contents
Part 2
Introduction to Part 1
In the previous post we discussed about the impact of COVID-19 pandemic on Canada. It led to a a 17% decrease in output, over 132,000 hospitalizations, and 35,000 deaths. The economic disruption led to job losses, reduced employment income, and challenges related to inflation and affordability.
Canada’s per-capita GDP growth and employment growth were affected, though there were improvements in 2021. The government implemented various measures through its COVID-19 Economic Response Plan to address these impacts.
However, the high debt-to-GDP ratio and rising inflation rates pose significant challenges for Canada’s economic recovery and fiscal stability. Addressing these issues will require comprehensive fiscal and monetary policies to support sustainable economic growth and mitigate inflationary pressures.
We also looked at the inflation on a sectoral and a provincial level. In this post we will focus on the political standing of the government and the future forecast of Canada. If you didn’t read the first post check this post.