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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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English Premier League’s Arsenal Hosts Over 100 Soccer Professionals to Discuss Tackling Antisemitism
Emirates Stadium, Arsenal’s home stadium. Photo: Nazmi Amin-Tai via Wikimedia Commons
The English Premier League powerhouse Arsenal hosted more than 100 professionals from across English soccer last week for a symposium on how to combat antisemitism in sports.
The event on Dec. 4 was attended by senior figures from soccer clubs, leagues, governing bodies, associations, and fan groups. They discussed antisemitism in British sports; the experiences of Jewish athletes, staff, and supporters; and how to develop new strategies for creating safer and more inclusive environments for the Jewish community.
As a result of the symposium, an industry toolkit was developed for clubs and governing bodies that will serve as a resource for how to include antisemitism awareness in equality, diversity, and inclusion (EDI) initiatives, improve communication and reporting strategies, and guarantee that Jewish fans and staff feel “safe, represented, and included.” Each delegate vowed to implement at least one action in their organization.
The symposium was coordinated in partnership with Maccabi GB and the British government’s independent adviser on antisemitism, John Mann. Maccabi GB is Britain’s leading charity dedicated to Anglo-Jewish sports, health, and wellbeing, according to its website. It aims to create inclusive sporting, community, and educational environments for the Jewish community.
“Bringing people together to learn, share experiences, and commit to practical action is how we create a better future for Jewish players, staff, and supporters,” Maccabi GB chief executive Ashley Lerner said at the symposium. “In partnership with Lord Mann’s office, we are determined to ensure that the conversations held today lead to meaningful change across the sporting world.”
“Sport has a unique ability to bring people together — but it can also expose the prejudices that exist in wider society,” said Mann. “That is why this partnership with Maccabi GB is so important. We are equipping clubs, leagues, and governing bodies with the knowledge and confidence they need to identify antisemitism early and tackle it decisively. The willingness of football leaders to engage so openly today is not just encouraging — it is essential. We now have the opportunity to ensure that the lessons of the past translate into meaningful, measurable change for the future.”
The symposium took place on the 90th anniversary of the England–Germany match at White Hart Lane in London in 1935, when the visiting German team performed the Nazi salute on the pitch. Stephanie Peacock, the British minister for sport, tourism, civil society, and youth, spoke at the event about the British government’s commitment to working with those in sports and the Jewish community to address antisemitism.
“Sport should always be a place of belonging, pride, and unity,” Peacock said. “Antisemitism has no place in football or in British society, and I welcome the leadership shown today by Maccabi GB and Lord Mann. The government is committed to supporting this work, ensuring that clubs and governing bodies have the capability, confidence, and frameworks to prevent discrimination and respond effectively when it occurs. Tackling antisemitism strengthens not only Jewish participation in sport, but the integrity and inclusivity of the game as a whole.”
Last week’s symposium was held as part of a larger project called Tackling Antisemitism in Sport, which was established in September 2023 as a partnership between Maccabi GB and Mann’s office. More than 4,000 soccer professionals have participated in the program’s workshops, including all 20 Premier League clubs.
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Israel to Reopen Jordan Border Crossing for Passage of Aid, Goods After Terror Attack
Israeli police officers stand next to their cars at the scene of a fatal shooting at the Allenby Crossing between the West Bank and Jordan, Sept. 18, 2025. Photo: REUTERS/Oren Ben Hakoon
Israel is set to reopen the Allenby Crossing with Jordan to the passage of goods and aid on Wednesday, an Israeli security official said on Tuesday.
The border crossing has been closed to aid and goods since September, when a driver bringing humanitarian aid to Gaza opened fire and killed two Israeli military personnel before being killed by security forces.
The security official said the crossing would have tightened screening for Jordanian drivers and truck cargo, and that a dedicated security force had been assigned to the crossing.
The Allenby Bridge is a key route for trade between Jordan and Israel and the only gateway for more than 3 million Palestinians in the West Bank to reach Jordan.
The crossing reopened to passenger traffic shortly after the attack, but had remained closed to aid trucks. The UN says the crossing is a major route for bringing food, tents, and other goods into Gaza.
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US Imposes Sanctions on Network It Accuses of Fueling War in Sudan
A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, Jan. 20, 2023. Photo: REUTERS/Kevin Lamarque
The US on Tuesday imposed sanctions on actors it accused of fueling the war in Sudan, taking aim at what it said was a transnational network that recruits former Colombian military personnel and trains soldiers, including children, to fight for the paramilitary Rapid Support Forces.
The US Treasury Department in a statement seen by Reuters said that it imposed sanctions on four individuals and four entities that were part of the network, which it said was largely comprised of Colombian nationals and companies.
The Treasury said that since at least 2024, hundreds of former Colombian military personnel have traveled to Sudan to fight alongside the RSF, which the US has accused of committing genocide.
The Colombians have provided the RSF with tactical and training expertise and served as infantry and artillerymen, drone pilots and instructors, among other roles, with some training children to fight for the paramilitary group, according to Treasury, which added that Colombian fighters have participated in battles across Sudan, including in the capital Khartoum and al-Fashir.
“The RSF has shown again and again that it is willing to target civilians — including infants and young children. Its brutality has deepened the conflict and destabilized the region, creating the conditions for terrorist groups to grow,” Treasury Under Secretary for Terrorism and Financial Intelligence, John Hurley, said in the statement.
Among those targeted was Alvaro Andres Quijano Becerra, who the Treasury said was a dual Colombian-Italian national and a retired Colombian military officer based in the United Arab Emirates. It accused him of playing a central role in recruiting and deploying former Colombian military personnel to Sudan.
The UAE has been widely accused of arming the RSF, an accusation it has denied.
“The United States again calls on external actors to cease providing financial and military support to the belligerents,” Treasury said in the statement.
The conflict between the Sudanese army and the RSF erupted in April 2023 out of a power struggle and has triggered famine, ethnic killings, and mass displacement. In November, US President Donald Trump said he would intervene to stop the conflict.
The United States, the United Arab Emirates, Egypt, and Saudi Arabia – known as the Quad – earlier in November proposed a plan for a three-month truce followed by peace talks. The RSF responded by saying it had accepted the plan, but soon after attacked army territory with a barrage of drone strikes.