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Canada Economic Snapshot

Economic Forecast Summary (December 2021)

Supply-chain disruptions have slowed but not arrested Canada’s economic recovery. With a fourth wave of infections receding, output is projected to surpass pre-pandemic levels by the end of 2021 and grow faster than trend at 3.9% in 2022 and 2.8% in 2023. Inflation is projected to moderate as production bottlenecks clear, before strengthening again as unemployment falls. More persistent supply constraints could, however, mean that inflation stays higher for longer and delay a projected acceleration in trade and consumer spending.

Reform Priorities (April 2021)

Going for Growth 2021 - Canada

Building a more resilient and inclusive economy requires strengthening welfare policy. The pandemic highlighted a general problem of weak backing for those unemployed or experiencing poverty, the gender-wage gap remains large and Indigenous peoples remain under-privileged in most socio-economic dimensions.

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2021 Structural Reform Priorities

  • Social protection: Strengthen support for vulnerable households
  • Labour market: Increase the labour-market inclusion of women
  • Competition and regulation: Reduce barriers to internal trade
  • Competition and regulation: Reduce barriers to entry for both domestic and foreign suppliers and enhance competition in network and service sectors
  • Tax system: Eliminate inefficient tax expenditures and increasing carbon prices

 

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Economic Survey of Canada - 11 March 2021

Executive Summary

Presentation

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