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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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Board of Peace Publishes Roadmap for Gaza Peace Plan
Palestinians walk among piles of rubble and damaged buildings in Khan Younis in the southern Gaza Strip, Nov. 24, 2025. Photo: REUTERS/Ramadan Abed
The US-led Board of Peace has unveiled an ambitious roadmap aimed at bringing the Gaza war to an end, dismantling Hamas’s military capabilities, and replacing its rule with a new governance structure backed by international oversight and Palestinian technocrats.
The plan, presented by the Board of Peace’s director-general and high representative for Gaza, Nickolay Mladenov, marks the most comprehensive effort yet to convert a fragile ceasefire into a durable post-war agreement, one that requires Hamas’s disarmament as a necessary component for any political or economic future for the enclave.
Calling Hamas’s refusal to lay down its arms and relinquish control the “principal obstacle” to implementation, Mladenov told the UN Security Council in New York on Thursday that “reconstruction financing [for Gaza] will not follow where weapons have not been laid down. No investment, no movement, no horizon.”
US President Donald Trump set up the Board of Peace to oversee his plan to end the Israel-Hamas war in Gaza, a conflict started by the Palestinian terrorist group’s Oct. 7, 2023, invasion of and massacre across the Jewish state. The UN has recognized the board, although several countries opted not to join despite being invited to do so.
After Israel and Hamas agreed to a ceasefire in October, Israeli forces partially withdrew and now control at least 53 percent of Gazan territory, with Hamas ruling the rest of the Palestinian enclave and the vast majority of its residents. Talks to further the peace plan have stalled since then, with Hamas tightening its control over its part of Gaza, largely through a brutal crackdown, and working to rebuild its military capabilities.
“The risk is that the deteriorating status quo becomes permanent – a divided Gaza, Hamas holding military and administrative control over 2 million people across less than half the territory,” Mladenov told the Security Council.
His proposal calls for a strict sequencing of steps that conditions reconstruction and political transition on Hamas giving up its weapons and military infrastructure.
According to Mladenov’s presentation and supporters of the plan, rebuilding efforts cannot credibly proceed while an armed terrorist organization retaining control over territory, borders, and civilian life. Earlier this month, for example, Hamas members blocked international efforts to begin reconstruction work in Rafah, a city in southern Gaza, threatening contractors who were set to enter an area under Israeli control in coordination with Israeli and American forces to begin reconstruction work funded by the United Arab Emirates (UAE).
Mladenov contended that efforts to rebuild the infrastructure of Gaza will commence when “commitments to stop internal killings, prohibit reprisals, ban armed demonstrations, and end displays of armed force.”
“The faster implementation progresses, the faster Gaza can begin rebuilding homes, schools, hospitals, infrastructure, and economic life at scale,” he said.
Under the roadmap, Hamas would be required to surrender its heavy weapons, dismantle its tunnel networks, and withdraw from any governing role in Gaza. Security responsibilities would gradually shift toward vetted local Palestinian forces supported by international partners, in what is designed as a phased transition rather than an immediate power vacuum. Israeli officials and supporters of the framework have emphasized that this sequencing is essential to prevent a repeat of past cycles in which reconstruction and governance reforms were ultimately overtaken by renewed militarization.
The governance model outlined by the Board of Peace envisions Gaza being administered through a hybrid structure combining a Palestinian technocratic committee responsible for day-to-day civil affairs with an international supervisory body tasked with overseeing reconstruction funding, security benchmarks, and implementation of the broader transition plan. The aim, according to officials involved in the effort, is to bypass Hamas entirely while also avoiding a return to full Israeli administrative control, instead placing long-term coordination under an internationally backed framework.
Reconstruction itself would be tightly tied to compliance with security conditions, meaning that large-scale rebuilding of housing, infrastructure, and utilities would only accelerate once demilitarization milestones are met. The board has also been pressing donor countries to follow through on approximately $17 billion in pledged reconstruction funding, warning that only a small portion of those commitments has been disbursed so far, leaving early recovery efforts stalled despite widespread international promises.
That funding gap has emerged as one of the central obstacles to implementation. While donor states signaled major financial support during earlier conferences, officials say the lack of actual disbursement has left the plan underpowered at a critical moment, effectively freezing reconstruction on paper while humanitarian needs continue to persist on the ground.
Hamas, for its part, has rejected the framework’s core premise, insisting that disarmament cannot be separated from a full Israeli withdrawal and broader political guarantees. The group has accused international mediators of advancing a process that ignores what it describes as unresolved core issues of sovereignty and ceasefire enforcement, deepening the diplomatic deadlock that has defined previous attempts to stabilize Gaza.
Israel has said it will not withdraw its forces any further until Hamas, which openly seeks the Jewish state’s destruction, disarms.
Despite the ceasefire framework that underpins the Board of Peace initiative, the situation on the ground remains fragile, with sporadic violence, unresolved security disputes, and widespread displacement continuing to strain civilian life. Humanitarian conditions remain severe, and reconstruction has yet to meaningfully begin at scale, reinforcing the sense that the political framework and the realities in Gaza are still far apart.
In statements to the UN Security Council, Mladenov warned that intermittent violence in Gaza risks “unraveling” the unstable ceasefire.
“There is no third option,” he stressed. “There never was, and the people of Gaza should not be made to wait while some pretend there is.”
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Giuliani Says Mamdani Has ‘Hatred’ for Jews for Declining to Attend Israel Day Parade in New York City
Former Donald Trump lawyer and former New York City Mayor Rudolph Giuliani arrives at US federal court in New York City, US, Nov. 26, 2024. Photo: REUTERS/Brendan McDermid
Former New York City Mayor Rudy Giuliani has lambasted the city’s current mayor, Zohran Mamdani, for the latter’s decision not to attend the annual Israel Day parade, which is set to take place later this month.
“Mamdani’s decision to snub the Israel Day Parade demonstrates his deep disdain and hatred of the Jewish community,” Giuliani, a Republican, told the New York Post on Wednesday. “When you combine this with his failure to attend the investiture of the new Catholic Archbishop [Ronald Hicks], a pattern emerges, revealing a man on a mission to tear down the foundations of Western civilization.”
Mamdani, a far-left democratic socialist, has made fierce anti-Israel activism a cornerstone of his political career, leading many Jewish leaders and other critics to accuse him of antisemitism.
“Have New Yorkers awakened to the fact that they made a disastrous decision in November 2025 by electing this man?” added Giuliani, who served as New York City’s mayor from 1994 through 2001.
Mamdani confirmed earlier this month that he will skip this year’s Israel Day Parade. However, the avowed anti-Zionist first indicated that he would not attend the event in October 2025, the month before his election. At the time, he told the Jewish Telegraphic Agency that he looked forward “to joining — and hosting — many community events celebrating Jewish life in New York and the rich Jewish history and culture of our city,” but not including the parade.
“While I will not be attending the Israel Day Parade, my lack of attendance should not be mistaken for a refusal to provide security or the necessary permits for its safety,” Mamdani said last year. “I’ve been very clear: I believe in equal rights for all people — everywhere. That principle guides me consistently.”
Mamdani is reportedly the first mayor of New York City to skip the Israel Day Parade, which has been held annually since 1964. The parade takes place along Manhattan’s Fifth Avenue and is set this year for May 31 under the theme, “Proud Americans, Proud Zionists.”
For what is believed to be the first time in history, a Muslim group will march in the parade. Supporters of the nonprofit American Muslim & Multifaith Women’s Empowerment Council will participate and be led by Anila Ali, the organization’s board chair and president.
As a supporter of the boycott, divestment, and sanctions (BDS) movement against Israel, Mamdani has been highly critical of the country and has refused to recognize it as a Jewish state. New York City is home to the world’s largest population of Jews outside of Israel.
“Since the very first Israel Parade in 1964, every single sitting mayor of New York City has joined in the festive celebrations. New York has historically been proud of its deep relationship with Israel. Not joining the parade is an affront to the history of New York City,” Moshe Davis – former executive director of the Mayor’s Office to Combat Antisemitism, a body formed by Mamdani’s predecessor, Mayor Eric Adams – told Fox News Digital.
Adams told the news outlet that the Israel Day Parade “is a testament to one of New York City’s most important relationships.”
“From health care to technology to innovation, Israel and New York City are partners in building a better future,” he explained. “I want every New Yorker to join the Parade on Fifth Avenue because celebrating this bond isn’t just for the Jewish community; it’s for our entire city.”
Last week, Mamdani posted a video on social media in honor of “Nakba Day.” The word “nakba” is Arabic for “catastrophe” and used by Palestinians to describe Israel’s founding and the displacement of hundreds of thousands of Arabs during Israel’s 1948 War of Independence.
Many Arabs left for varied reasons, including that they were encouraged by Arab leaders to flee their homes to make way for the invading armies to destroy the nascent Jewish state. At the same time, about 850,000 Jews were forced to flee or expelled from Middle Eastern and North African countries in the 20th century, primarily in the aftermath of Israel’s declaring independence.
Several pro-Israel Jewish groups found the video posted by Mamdani offensive, and as a result, some Jewish leaders decided not to attend a pre-Shavuot event Mamdani hosted at Gracie Mansion in honor of Jewish Heritage Month.
The UJA Federation of New York and the Jewish Community Relations Council of New York, both of which are organizing the Israel Day Parade, declined to attend the gathering. They told the New York Post they made the decision because the event’s host is a mayor who “denies the core pillar of our heritage, the State of Israel as the homeland of the Jewish people.” At the event, Mamdani announced that his administration will allocate $26 million annually to expand efforts made by the city’s Office for the Prevention of Hate Crimes.
Since Mamdani assumed office, Jews have been targeted in the majority of all hate crimes committed in New York City, continuing a troubling trend of rising antisemitism following Hamas’s Oct. 7, 2023, massacre across southern Israel.
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Vermont Police Investigate Anti-Israel Vandalism of Jewish-Owned Store as Possible Hate Crime
Graffiti is seen on the windows of DG Bodyworks in Cavendish on Wednesday, May 20, 2026. The Vermont State Police has partially redacted profanity that appears on the window to the right. Photo: Vermont State Police
A Jewish woman’s store in Vermont was vandalized early Wednesday morning with anti-Israel graffiti in an incident that police are investigating as a possible hate crime.
“Free Palestine” and “F–k Israel” were spray-painted on the windows of DG Bodyworks, where Israeli flags were on display.
Vermont State Police said they are investigating the vandalism in the Windsor County town of Cavendish as a possible hate crime and will inform the Attorney General’s Office of the incident. Officers who responded to the crime scene reviewed security footage and saw an individual vandalizing the store with purple spray paint during the early hours of Wednesday morning. Police released a photo of the suspect, a white male who wore a cap and covered his face while spray-painting the messages.
Shop owner Denise Gebroe said that her store was targeted because she is Jewish and that while she was “shaken” to discover the graffiti, “I am OK and will not be broken.”
“This was an act of intimidation directed at me because I am Jewish,” she added, in a statement shared with The Algemeiner by Vermont Friends of Israel. “I made Vermont my home because I love it here, but it does not feel the same as it once did. Incidents like this are happening more than many people realize, and most go unreported. I fear for the future of the Jewish community here, and Jewish friends of mine have already left.”
In a statement given to The Algemeiner, Mark Treinkman, president of Vermont Friends of Israel, also called the vandalism an anti-Jewish hate crime and said such an incident “is the predictable consequence of a political campaign in Vermont that demonizes Israel and pressures local communities to treat Jews and Zionists as equivalent to Nazis.” He referenced an Apartheid Free Community campaign active in Vermont, promoted by the Palestine Solidarity Coalition, that is marketed locally as “grassroots activism.”
“When anti-Zionist activists tell people that Jews with deep spiritual, cultural, and familial ties to Israel are ‘baby killers’ and ‘genocide supporters,’ it sends a dangerous signal that intimidation against them is understandable, deserved, or even justified,” Treinkman noted. “History teaches us where this goes. First come campaigns of dehumanization, slogans, pledges, and public shaming. Now a Jewish woman’s storefront has been vandalized in rural Vermont.”
“Synagogues in Vermont have been sent death threats. Swastikas are found on Vermont school walls,” he added, referring to threatening letters sent to several local synagogues and antisemitism graffiti discovered at an elementary school last year. “Jewish students are bullied. What comes next if this is not confronted?”
