Behind the economy

Trudeau expands vaccines ... and revives the Canadian economy

Justin Trudeau.

Archives

Canadian Prime Minister Justin Trudeau is pushing his government to complete the process of vaccinating the largest possible number of Canadian citizens before the end of this year, and to secure more than 400,000 early doses of two US vaccines for "Covid-19", while economists believe that launching the vaccine opens the door. Faced with a sharp recovery later in 2021.

Despite expectations that the closings will affect the country's gross domestic product in December 2020 and January 2021, the Canadian economy grew more than expected in October, which eased fears of a sharp slowdown amid a second wave of Corona.

Statistics Canada in Ottawa said that gross domestic product (GDP) grew by 0.4% in October compared to the previous month.

Economists expected growth of 0.3%.

Bloomberg also released a preliminary estimate for November that showed an expansion of 0.4%.

Trudeau's efforts led to a strong recovery in the Canadian economy in the third quarter, but the new surge of the pandemic disrupted expectations, as new cases of the virus exceeded 6,600 people per day, which is more than three times what was recorded during the first wave in April and May 2020.

According to "Bloomberg", the Canadian economy continued to recover at a remarkable pace in October and November, despite the various restrictions imposed, but the closures that come into effect in the provinces of Ontario and Quebec, may mean that GDP may decline again in December and January.

Follow our latest local and sports news, and the latest political and economic developments via Google news