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Canada’s economic growth projected to be about 1% in the first half of 2024
Canada is a country with a thriving Jewish community and has traditionally offered the security of a strong economy for residents. The national economic outlook is naturally something that everyone in Canada’s Jewish community keeps track of – especially those involved in business in the various provinces.
With this in mind, the July 2023 Monetary Policy Report from the Bank of Canada made for interesting reading, projecting a moderate economic growth figure of around 1% for the first half of 2024. This is in line with growth figures that had been forecast for the second half of 2023, and sees the country’s economy remain on a stable footing.
Steady projected growth for first half of 2024
Although projected economic growth of around 1% in early 2024 is not as impressive as figures of around 3.4% in 2022 and 1.8% in 2023, it is certainly no cause for alarm. But what might be behind it?
Higher interest rates are one major factor to consider and have had a negative impact on household spending nationally. This has effectively seen people with less spending power and businesses in Canada generating less revenue as a result.
Interest rate rises have also hit business investments nationally, and less money is being channelled into this area to fuel Canada’s economic growth. When you also factor in how the weak foreign demand for Canadian goods and services has hit export growth lately, the projected GDP growth figure for early 2024 is understandable.
Growth in second half of 2024 expected
Although the above may make for interesting reading for early 2024, the Bank of Canada’s report does show that economic growth is expected to pick up in the second half of the year. This is projected to be due to the decreasing effect of high interest rates on the Canadian economy and a stronger foreign demand for the country’s exports.
Moving forward from this period, it is predicted that inflation will remain at around 3% as we head into 2025, and hit the Bank of Canada’s inflation target of 2% come the middle of 2025. All of this should help the country’s financial status remain stable and prove encouraging for business leaders in the Jewish community.
Canada’s economic growth mirrors iGaming’s rise
When you take a look at the previous growth figures Canada has seen and also consider the growth predicted for 2024 (especially in the second half of the year), it is clear that the country has a vibrant, thriving economy.
This economic growth is something that can be compared with iGaming’s recent rise as an industry around the country. In the same way as Canada has steadily built a strong economy over time, iGaming has transformed itself into a powerful, flourishing sector.
This becomes even clearer when you consider that Canadian iGaming has been a major contributor to the sustained growth seen in the country’s arts, entertainment and recreation industry, which rose by around 1.9% in Q2 of 2023. The healthy state of online casino play in Canada is also evidenced by how many customers the most popular casino platforms attract and how the user experience these operators offer has enabled iGaming in the country to take off.
This, of course, is also something that translates to the world stage, where global iGaming revenues in 2023 hit an estimated $95 billion. iGaming’s global market volume is also pegged to rise to around $130 billion by 2027. These kinds of figures represent a sharp jump for iGaming worldwide and show how the sector is on the ascent.
Future economic outlook for Canada in line with global expectations
When considering the Canadian economic outlook for 2024, it is often useful to look at how this compares with global financial predictions. In addition to the rude health of iGaming in Canada being reflected in global online casino gaming, the positive economic outlook for the country is also broadly in line with expectations for many global economies.
Global growth is also predicted to rise steadily in the second half of 2024 before becoming stronger in 2025. This should be driven by the weakening effects of high interest rates on worldwide economic prosperity. With rate cuts in Canada already expected after Feb 2024’s inflation report, this could happen in the near future.
The performance of the US economy is always of interest in Canada, as this is the country’s biggest trading partner. Positive US Q2 performances in 2023, powered by a strong labor market, good consumer spending levels and robust business investments, were therefore a cause for optimism. As a US economy that continues to grow is something that Canadian businesses welcome, this can only be a healthy sign.
Canada set for further growth in 2024
Local news around Canada can cover many topics but the economy is arguably one of the most popular. A projected GDP growth figure of around 1% for Canada’s economy shows that the financial state of the country is heading in the right direction. An improved financial outlook heading into the latter half of 2024/2025 would make for even better reading, and the national economy should become even stronger.
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Netanyahu: ‘Our Forces Are Striking the Heart of Tehran With Increasing Strength’
Israeli Prime Minister Benjamin Netanyahu participates in the state memorial ceremony for the fallen of the Iron Swords War on Mount Herzl, in Jerusalem, Oct. 16, 2025. Photo: Alex Kolomoisky/Pool via REUTERS
i24 News – Israeli Prime Minister Benjamin Netanyahu stated that Israeli forces had “eliminated the dictator Ali Khamenei” along with dozens of senior officials of Iran’s regime during a statement delivered from the roof of the Kirya, Israel’s defense headquarters.
“Yesterday, we eliminated the dictator Khamenei. Along with him, dozens of senior officials from the oppressive regime were eliminated,” Netanyahu said after a meeting with the Minister of Defense, the Chief of Staff, and the Director of Mossad. He added that he had issued instructions to continue the offensive.
According to Netanyahu, Israeli forces are “now striking at the heart of Tehran with increasing intensity,” a campaign he said will “increase further in the days to come.”
The Prime Minister also acknowledged the toll of the conflict on Israel, calling recent days “painful” and offering condolences to the families of victims in Tel Aviv and Beit Shemesh, while wishing a speedy recovery to those injured.
Netanyahu emphasized that the operation mobilizes “the full power of the Israel Defense Forces, like never before,” in order to “guarantee our existence and our future.” He also highlighted US support, noting “the assistance of my friend, the President of the United States, Donald Trump, and of the American military.”
“This combination of forces allows us to do what I have hoped to accomplish for 40 years: strike the terrorist regime right in the face,” Netanyahu concluded. “I promised it — and we will keep our word.”
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Trump Says Iran Military Operations Are ‘Ahead of Schedule,’ CNBC Reports
U.S. President Donald Trump speaks with White House Chief of Staff Susie Wiles and Secretary of State Marco Rubio during military operations in Iran, at Trump’s Mar-a-Lago resort in Palm Beach, Florida, U.S. February 28, 2026. The White House/Social Media/Handout via REUTERS
US President Donald Trump told CNBC on Sunday that US military operations against Iran are “ahead of schedule.”
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Iranian Missile Strike on Beit Shemesh in Israel Kills 9
Emergency personnel work at the site of an Iranian strike, after Iran launched missile barrages following attacks by the US and Israel on Saturday, in Beit Shemesh, Israel, March 1, 2026. Photo: REUTERS/Ammar Awad
An Iranian missile strike hit the Israeli city of Beit Shemesh on Sunday, killing nine people and wounding dozens, in what authorities described as a direct impact on a public bomb shelter.
A ballistic missile leveled the bomb shelter, leaving a large crater in its wake. Most, if not all, of those killed had been taking cover inside the shelter when it hit, Jerusalem Police Deputy Commissioner Avshalom Peled said at the impact scene.
Those in critical condition were airlifted to Shaare Zedek Medical Center, a spokesperson for the Israel Defense Forces (IDF) said.
At least 20 people were still missing late on Sunday afternoon local time.
As you read this, an Iranian missile has just struck a residential neighborhood in Beit Shemesh, Israel, only 30 kilometers/about 18 miles from Jerusalem.
Nine people are dead.
More than 20 are wounded, including children. A
public shelter collapsed from the direct hit. An… pic.twitter.com/mEVDlPEqgf
— Ella Kenan (@EllaTravelsLove) March 1, 2026
Several buildings surrounding the shelter in Beit Shemesh, which is west of Jerusalem, were also damaged in the attack, with two collapsing entirely. A synagogue was also destroyed.
Emergency crews from Magen David Adom, ZAKA, and United Hatzalah joined fire and rescue units at the site, combing damaged buildings and debris for possible survivors. Many people were trapped under rubble or inside apartments, first responders said.
The Iranian Regime directly fired missiles toward the civilian neighborhood of Beit Shemesh, killing innocent civilians.
The Iranian regime purposely targets civilian targets while we precisely target terror targets. This is who we’re operating against—a regime who uses… pic.twitter.com/9W8Fp4T2tH
— Israel Defense Forces (@IDF) March 1, 2026
Chaim Wingarten, deputy director of operations at rescue organization ZAKA, described the scenes as “very difficult.”
“When I arrived, it was a huge chaos, with wounded people everywhere,” he said.
The strike was part of a larger volley that triggered air-raid sirens across the country. A man in his fifties was wounded by shrapnel elsewhere in central Israel.
IDF foreign media spokesman Lt. Col. Nadav Shoshani charged Iran with deliberately firing at civilians. “We know this is their strategy,” he said, adding that Israel would do “everything in our power to remove these capabilities from this bloodthirsty terrorist regime.”
The Beit Shemesh hit marked the highest single-incident death toll inside Israel since the confrontation with Iran began a day earlier. The previous peak came during the 12-day war in June 2025, when a missile slammed into an apartment block in Bat Yam and killed nine people.
The Beit Shemesh strike came a day after US and Israeli forces struck a compound in Tehran killing senior Iranian officials, including Supreme Leader Ayatollah Ali Khamenei, whose death was later announced on Iranian state television.
In an interview with Fox News on Sunday, Trump said 48 Iranian leaders were killed in the strikes. “Nobody can believe the success we’re having; 48 leaders are gone in one shot. And it’s moving along rapidly,” he said.
Separately, the American president told CNBC that the US operation was “ahead of schedule.”
Thousands of Iranians braved the strikes and took to the streets to celebrate Khamenei’s death on Saturday evening. Many people stood on balconies and at windows chanting “freedom, freedom,” The New York Times reported. People in the Iranian city of Shiraz were “abandoning their cars for an impromptu dance party, whistling, cheering, clapping, and screaming with joy. In many videos, celebrants joined together in a cheer that is typically reserved for weddings, symbolizing pure joy,” the report said.
GeoConfirmed Iran.
People chanting – Celebrations through the Foolad Shahr area in Isfahan with joy and jubilation over the killing of Khamenei.
Rough location – 32.48169, 51.39167
F9JR+MMF Fuladshahr, Isfahan Province, IranGeoLocated by @Mitch_Ulrich
Geolocation:… https://t.co/iv9TlSPPfS
— GeoConfirmed (@GeoConfirmed) February 28, 2026
Can you hear the joy in his voice?
“I am dreaming, hello world!” pic.twitter.com/ICq77zBerv— William Mehrvarz (@WilliamMehrvarz) March 1, 2026
Iran retaliated by firing repeated waves of missiles and drones, with launches aimed not only at Israel but also at US bases in the Middle East, including Qatar, Kuwait, the United Arab Emirates, and Bahrain. Iran on Sunday morning also launched two missiles at Cyprus, where thousands of British military personnel are stationed, which fell short.
Later in the afternoon, the US acknowledged its first losses with US Central Command, saying three American service members were killed and five were seriously wounded during the operations in Iran.