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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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Downed Planes Raise New Perils for Trump as Tehran Hunts for Missing US Pilot
Traces of an Iranian missile attack in Tehran’s sky, amid the U.S.-Israeli conflict with Iran, in Tehran, Iran, April 3, 2026. Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
Two US warplanes were downed over Iran and the Gulf, Iranian and US officials said on Friday, with two pilots rescued and a third still missing and being hunted by Tehran’s forces.
The incidents show the risks still faced by US and Israeli aircraft over Iran despite assertions from US President Donald Trump and his Defense Secretary Pete Hegseth that their forces had total control of the skies.
The first plane, a two-seat US F-15E jet, was shot down by Iranian fire, officials in both countries said.
The second plane, an A-10 Warthog fighter aircraft, was hit by Iranian fire and crashed over Kuwait, with the pilot ejecting, two US officials said.
Two Blackhawk helicopters involved in the search effort for the missing pilot were hit by Iranian fire but made it out of Iranian airspace, the two US officials told Reuters.
The degree of injuries among the crew of the aircraft remained unclear. The status and whereabouts of the missing F-15E crew member was not publicly known.
Iran’s Revolutionary Guard Corps said it was combing an area near where the pilot’s plane came down in southwestern Iran and the regional governor promised a commendation for anyone who captured or killed “forces of the hostile enemy.”
Iranians, who have been pummeled by American air power for weeks, posted gleeful messages celebrating the plane downings. Iran’s Parliament Speaker Mohammad Baqer Qalibaf said on X that the U.S. and Israel’s war had been “downgraded from regime change” to a hunt for their pilots.
Trump has been in the White House receiving updates on the search-and-rescue operation, a senior administration official told Reuters. The Pentagon and US Central Command did not immediately respond to requests for comment.
NO SIGN OF END TO WAR
The prospect of a US service person being alive and on the run inside Iran raises the stakes for Washington in a conflict with low public support and no sign of an imminent end.
Iran has officially told mediators it is not prepared to meet with US officials in Islamabad in coming days and that efforts to produce a ceasefire, led by Pakistan, have reached a dead end, the Wall Street Journal reported on Friday.
The US and Israel opened the campaign with a wave of strikes that killed Iran’s Supreme Leader Ayatollah Ali Khamenei on February 28. The war has killed thousands and threatened lasting damage to the global economy.
So far, 13 US military service members have been killed in the conflict and more than 300 have been wounded, according to the US Central Command.
Iran has rained down drones and missiles on Israel. It has also taken aim at Gulf countries allied to the US, which have so far held back from joining the war directly for fear of further escalation.
In a security alert on Friday, the US embassy in Beirut said Iran and its aligned armed groups may target universities in Lebanon and urged US citizens in the country to leave while commercial flights are still available.
Israel has been waging a parallel campaign against Iran-backed Hezbollah in Lebanon after the militant group fired at Israel in support of Iran.
TRUMP THREAT TO STRIKE BRIDGES, POWER PLANTS
On Friday, as Trump threatened to hit its bridges and power plants, Iran struck a power and water plant in Kuwait, underlining the vulnerability of Gulf states that rely heavily on desalination plants for drinking water.
On Thursday, Trump posted footage on social media showing dust and smoke billowing up as US strikes hit the newly constructed B1 bridge between Tehran and nearby Karaj, which was due to open this year, and said more attacks would follow.
“Our Military, the greatest and most powerful (by far!) anywhere in the World, hasn’t even started destroying what’s left in Iran. Bridges next, then Electric Power Plants!” he wrote in a subsequent post.
On Friday, a drone hit a Red Crescent relief warehouse in the Choghadak area of Iran’s southern Bushehr province.
Kuwait Petroleum Corporation said its Mina al-Ahmadi refinery had been hit by drones. Other attacks were also reported to have been intercepted in Saudi Arabia and Abu Dhabi. Missile debris landed near the Israeli port of Haifa, site of a major oil refinery.
Oil markets were closed after benchmark U.S. crude prices gained 11% on Thursday following a speech by Trump that offered no clear sign of an imminent end to the war.
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US-Iran: Diplomatic Push Falters as Qatar Steps Back and Pakistan Talks Stall
Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani speaks after a meeting with the Lebanese president at the presidential palace in Baabda, Lebanon, Feb. 4, 2025. Photo: REUTERS/Emilie Madi
i24 News – Diplomatic efforts to secure a ceasefire between Washington and Tehran appear to have reached an impasse, as key regional mediators pull back and broader talks stall.
According to reporting by The Wall Street Journal, Qatar has informed US officials that it does not wish to take a central role in mediating between the two sides. Officials familiar with the matter said Doha has made clear it is “not willing” to lead negotiations or act as the primary broker.
At the same time, Pakistan-led efforts to bring Iranian and American officials together have also stalled. Mediators say Tehran has refused to attend proposed meetings in Islamabad, calling Washington’s conditions “unacceptable,” further underscoring the widening gap between the two sides and the growing difficulty of restarting dialogue.
Despite the deadlock, diplomatic channels have not fully closed. Turkey and Egypt are continuing parallel efforts to revive talks, with discussions underway about potential alternative venues, including Doha and Istanbul.
US President Donald Trump downplayed the impact of recent military developments on diplomacy, including the destruction of a US fighter jet during operations in Iran. Speaking in a brief exchange with an NBC News journalist, he said: “No, not at all. It’s war. We are at war.”
He further fueled speculation with a cryptic social media post on Truth Social, writing: “Keep the oil, anyone?” criticising international allies on Friday over rising fuel prices. Trump appeared to mock allies such as the United Kingdom, writing that they should “keep the oil.”
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Report: Iran Retains Significant Missile Capability Despite Weeks of US-Led Strikes
Iranian missiles are displayed in a park in Tehran, Iran, Jan. 31, 2026. Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
i24 News – Despite weeks of sustained airstrikes by the United States and its allies, Iran has reportedly managed to retain a substantial portion of its military capabilities, particularly its ballistic missile arsenal.
According to a report by The New York Times citing US intelligence assessments, Tehran has developed methods to mitigate the impact of the strikes, allowing it to preserve and restore key parts of its missile infrastructure.
While the Pentagon has claimed responsibility for striking more than 11,000 targets over five weeks and reducing the rate of Iranian missile fire, intelligence officials now caution that the actual damage may be more limited than initially assessed. Iranian forces are reportedly able to rapidly repair or reactivate missile launchers stored in heavily fortified or underground facilities, sometimes within hours of being hit.
Analysts also point to the widespread use of decoy sites, which may have drawn strikes away from operational assets. Many of the targeted locations are believed to have contained dummy installations, complicating efforts to accurately gauge the degradation of Iran’s ballistic capabilities. Combined with deep underground bunkers and dispersed storage networks, this approach is seen as enabling Tehran to maintain a higher level of readiness than publicly estimated.
US intelligence officials assess that this resilience reflects a deliberate strategy: preserving a credible long-range strike capability as both a deterrent and a bargaining tool in any future negotiations, while ensuring regime survival and continued regional influence.
Despite sustained air dominance claimed by Washington and its allies, Iran’s adaptive tactics continue to complicate battlefield assessments, leaving the true balance of power in the conflict uncertain.