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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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Defense Minister Moves to Shut Down Israel’s Historic Army Radio Station
Israeli Defense Minister Israel Katz looks on, amid the ongoing conflict in Gaza between Israel and Hamas, in Jerusalem, Nov. 7, 2024. Photo: REUTERS/Ronen Zvulun
i24 News – Israel’s defense minister, Israel Katz, said he plans to bring a proposal to the government on Sunday to close Galei Tzahal, the Israel Defense Forces’ radio station, ending a broadcast operation that has been on the air for more than seven decades.
If approved, the shutdown would take effect on March 1, 2026.
The announcement has triggered sharp backlash from journalists, legal experts, and civil society groups, who warn the move could have far-reaching implications for press freedom. Tal Lev-Ram, the station’s commander, has already signaled that Galei Tzahal’s leadership intends to challenge the decision in the High Court of Justice. Attorney General Gali Baharav-Miara also voiced concern, cautioning that the plan could amount to political intervention in public media and pose risks to freedom of expression.
Criticism has also come from the Israeli Press Council, headed by former Supreme Court justice Hanan Melcer, which labeled the proposed closure unlawful.
The council argued that dismantling a public broadcaster requires explicit legislation passed by the Knesset, not a government decision alone. Advocacy organizations, including the Movement for Quality Government, said they are preparing legal petitions as well.
Katz defended the initiative by citing the findings of a professional review committee, which concluded that a military-run radio station broadcasting political and current affairs programming to the general public represents a “democratic anomaly.”
He argued that Galei Tzahal has moved beyond its original mandate of serving soldiers and their families.
The committee examined a range of alternatives, such as converting the station into a music-only outlet or partially privatizing its operations.
Ultimately, it recommended either closing the station altogether or significantly scaling it back by removing political content. Katz noted that Galgalatz, the popular music station operated by the army, would continue broadcasting under the proposed plan.
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Trilateral Summit: Israel, Greece, Cyprus to Discuss Regional Security
Israeli Prime Minister Benjamin Netanyahu participates in the state memorial ceremony for the fallen of the Iron Swords War on Mount Herzl, Jerusalem on Oct. 16, 2025. Photo: Alex Kolomoisky/POOL/Pool via REUTERS
i24 News – Jerusalem will host a trilateral summit tomorrow, bringing together leaders from Israel, Greece, and Cyprus to discuss strengthening security cooperation in the eastern Mediterranean.
The summit follows reports by Amichai Stein of i24NEWS last week that the three countries are considering the formation of a joint rapid-response military unit.
The Israeli Prime Minister is scheduled to hold bilateral meetings with each of his counterparts before convening the full trilateral session, which will conclude with a joint press statement outlining the summit’s outcomes.
Media reports indicate that the initiative is driven in part by concerns in Athens over Turkey’s growing military activity in the region. The proposed rapid-response force is expected to enhance coordination, readiness, and overall security among the three allies.
Analysts say the meeting could solidify Israel, Greece, and Cyprus’s strategic partnership and signal a more unified approach to regional defense challenges.
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Justice Department Restores Trump Photo to Public Database of Epstein Files
An exterior image from the U.S. Virgin Islands property on Little St. James once owned by Jeffrey Epstein. via U.S. Justice Department
A photo of US President Donald Trump that had been removed from the cache of Jeffrey Epstein files released by the Department of Justice was restored on Sunday after officials determined none of Epstein’s victims were in the image, the department said.
The photo showing a desk with an open drawer containing a photo of Trump with various women was flagged by the Southern District of New York for review to protect potential victims.
“After the review, it was determined there is no evidence that any Epstein victims are depicted in the photograph, and it has been reposted without any alteration or redaction,” the Justice Department said on X on Sunday.
Deputy Attorney General Todd Blanche said earlier on Sunday his office removed the photo because of concerns about women in the photo. “It has nothing to do with President Trump,” Blanche said during a Sunday morning appearance on NBC’s “Meet the Press with Kristen Welker.”
The Justice Department released thousands of documents on Friday related to Jeffrey Epstein, a convicted sex offender who committed suicide in 2019. But it has drawn criticism, including from some Republicans, over extensive redactions and few documents mentioning Trump despite his well-publicized friendship with Epstein.
During an ABC News interview on Sunday, Democratic House Minority Leader Hakeem Jeffries called for a “full and complete investigation as to why the document production has fallen short of what the law clearly required.”
Up to 16 photos, including the desk drawer Trump image, were removed on Saturday from the Justice Department website, according to The New York Times, NPR and the Associated Press, although Reuters could not independently confirm the removals.
The Justice Department said on Sunday it acted with an abundance of caution after receiving requests from alleged victims and their lawyers to remove information.
Trump has not been accused of wrongdoing and has denied knowing about Epstein’s crimes.