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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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Herzog Says Wellbeing of Israelis His Only Concern in Deal With Netanyahu’s ‘Extraordinary’ Pardon Request
Israeli President Isaac Herzog speaks during a press conference with Latvian President Edgars Rinkevics in Riga, Latvia, Aug. 5, 2025. Photo: REUTERS/Ints Kalnins
i24 News – In an interview with Politico published on Saturday, Israeli President Isaac Herzog remained tight-lipped on whether he intended to grant Prime Minister Benjamin Netanyahu’s “extraordinary” pardon request, saying that his decision will be motivated by what’s best for Israel.
“There is a process which goes through the Justice Ministry and my legal adviser and so on. This is certainly an extraordinary request and above all when dealing with it I will consider what is the best interest of the Israeli people,” Herzog said. “The well-being of the Israeli people is my first, second and third priority.”
Asked specifically about President Donald Trump’s request, Herzog said “I respect President Trump’s friendship and his opinion,” adding, “Israel, naturally, is a sovereign country.”
Herzog addressed a wide range of topics in the interview, including the US-Israel ties and the shifts in public opinion on Israel.
“One has to remember that the fountains of America, of American life, are based on biblical values, just like ours. And therefore, I believe that the underlying fountain that we all drink from is the same,” he said. “However, I am following very closely the trends that I see in the American public eye and the attitude, especially of young people, on Israel.”
“It comes from TikTok,” he said of the torrent of hostility toward Israel that has engulf swathes of U.S. opinion since the October 7 massacre and the subsequent Gaza war, “from a very shallow discourse of the current situation, pictures or viewpoints, and doesn’t judge from the big picture, which is, is Israel a strategic ally? Yes. Is Israel contributing to American national interests, security interests? Absolutely yes. Is Israel a beacon of democracy in the Middle East? Absolutely yes.”
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Syria’s Sharaa Charges Israel ‘Exports Its Crises to Other Countries’
FILE PHOTO: Syria’s President Ahmed al-Sharaa addresses the 80th United Nations General Assembly (UNGA) at the U.N. headquarters in New York, U.S., September 24, 2025. Photo: REUTERS/Shannon Stapleton/File Photo
i24 News – Syrian President Ahmed al-Sharaa on Saturday escalated his messaging against Israel at the Doha forum.
“Israel is working to export its own crises to other countries and escape accountability for the massacres it committed in the Gaza Strip, justifying everything with security concerns,” he said.
“Meanwhile, Syria, since its liberation, has sent positive messages aimed at establishing the foundations of regional stability.
“Israel has responded to Syria with extreme violence, launching over 1,000 airstrikes and carrying out 400 incursions into its territory. The latest of these attacks was the massacre it perpetrated in the town of Beit Jinn in the Damascus countryside, which claimed dozens of lives.
“We are working with influential countries worldwide to pressure Israel to withdraw from the territories it occupied after December 8, 2014, and all countries support this demand.
“Syria insists on Israel’s adherence to the 1974 Disengagement Agreement. The demand for a demilitarized zone raises many questions. Who will protect this zone if there is no Syrian army presence?
“Any agreement must guarantee Syria’s interests, as it is Syria that is subjected to Israeli attacks. So, who should be demanding a buffer zone and withdrawal?”
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Turkey’s Fidan: Gaza Governance Must Precede Hamas Disarmament in Ceasefire Deal
Turkish Foreign Minister Hakan Fidan attends a press conference following a meeting with Russian Foreign Minister Sergei Lavrov in Moscow, Russia, May 27, 2025. Photo: Pavel Bednyakov/Pool via REUTERS
Turkish Foreign Minister Hakan Fidan told Reuters on Saturday that not advancing the US-backed Gaza ceasefire plan to its next stage would be a “huge failure” for the world and Washington, noting that President Donald Trump had personally led the push.
In an interview on the sidelines of the Doha Forum, Fidan said a credible Palestinian civil administration and a vetted, trained police force needed to be in place to allow Hamas to disarm, and that the group was prepared to hand over control of the enclave.
“First of all, we need to see that the Palestinian committee of technical people are taking over the administration of Gaza, then we need to see that the police force is being formed to police Gaza – again, by the Palestinians, not Hamas.”
NATO member Turkey has been one of the most vocal critics of Israel’s assault on Gaza. It played a key role in brokering the ceasefire deal, signing the agreement as a guarantor. It has repeatedly expressed its willingness to join efforts to monitor the accord’s implementation, a move Israel strongly opposes.
Talks to advance the next phase of President Trump’s plan to end the two-year conflict in Gaza are continuing.
The plan envisages an interim technocratic Palestinian administration in the enclave, overseen by an international “board of peace” and supported by a multinational security force. Negotiations over the composition and mandate of that force have proven particularly difficult.
Fidan said the Gaza police force would be backed by the international stabilisation force. He added that Washington was pressing Israel over Turkey’s bid to join the force, to which it has voiced readiness to deploy troops if needed.
FIDAN SAYS KURDISH SDF IN SYRIA NOT WILLING TO INTEGRATE
Asked about a landmark deal in March in which the Kurdish-led Syrian Democratic Forces and Damascus agreed that the SDF would be integrated into Syria’s state structures, Fidan said signals from the SDF showed it had “no intention” of honouring the accord, and was instead seeking to sidestep it.
Ankara, which considers the SDF a terrorist organisation, has threatened military action if it does not comply, setting a deadline of the end of the year.
“I think they (SDF) should understand that the command and control should come from one place,” Fidan added. “There can be no two armies in any given country. So there can only be one army, one command structure … But in local administration, they can reach a different settlement and different understandings.”
Almost a year after the fall of president Bashar al-Assad, Fidan said some issues of minority rights were unresolved, insisting that Turkey’s backing of the new Syrian government was not a “blank cheque” to oppress any groups.
He said Damascus was taking steps toward national unity, but that Israeli “destabilisation policies” were the chief obstacle.
Israel has frequently struck southwestern Syria this year, citing threats from militant groups and the need to protect the Druze community near the frontier. Prime Minister Benjamin Netanyahu said on Tuesday he expected Syria to establish a demilitarised buffer zone from Damascus to the border.
TURKEY: U.S. COULD REMOVE SANCTIONS ‘VERY SOON’
Fidan also said Washington’s initial 28-point plan to end the Russia-Ukraine war was just a “starting point,” and that it was now evolving in a new format. He said mediation by US officials was “on the right path.”
“I just hope that nobody leaves the table and the Americans are not frustrated, because sometimes the mediators can be frustrated if they don’t see enough encouragement from both sides.”
Asked about efforts to lift US sanctions imposed in 2020 over Ankara’s purchase of Russian S-400 air defense systems, he said both sides were working on it, adding: “I believe we’ll soon find a way to remove that obstacle.”