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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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US Officials Tell i24NEWS Israeli Concerns About Gaza Board of Peace Are ‘Unfounded’

FILE PHOTO: U.S. President Donald Trump is interviewed by Reuters White House correspondent Steve Holland (not pictured) during an exclusive interview in the Oval Office in the White House in Washington, D.C., U.S., January 14, 2026. REUTERS/Evelyn Hockstein/File Photo

i24 NewsAmid the criticism in Israel over the composition of the “Board of Peace” and the bodies set to govern the Gaza Strip, as well as concerns that Hamas could continue to threaten Israel under the new plan, officials in Washington suggest these concerns are unfounded, i24NEWS understands.

A Senior US official tells i24NEWS: “Turkey, Qatar, and Egypt were instrumental in achieving the ceasefire, securing the return of the living hostages, and bringing back the deceased. They have co-signed commitments that Hamas will follow through on its part of the plan, and the Board of Peace will work with them to ensure compliance.”

The underlying message is clear: President Trump will make the calls, and the US will ensure full implementation of all objectives of the plan, first and foremost the demilitarization of Gaza, regardless of the positions or hostile statements towards Israel coming from Turkey and Qatar.

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One Person Killed, 14 Hurt in Blast in Iranian Port of Bandar Abbas, Iranian Media Reports

FILE PHOTO: An aerial view of the Iranian shores and Port of Bandar Abbas in the strait of Hormuz, December 10, 2023. REUTERS/Stringer/File Photo

At least one person was killed and 14 injured in an explosion in the southern Iranian port of Bandar Abbas on Saturday, a local official told Iranian news agencies, but the cause of the blast was not known.

The semi-official Tasnim news agency said that social media reports alleging that a Revolutionary Guard navy commander had been targeted in the explosion were “completely false.”

Iranian media said the blast was under investigation but provided no further information. Iranian authorities could not immediately be contacted for comment.

Separately, four people were killed after a gas explosion in the city of Ahvaz near the Iraqi border, according to state-run Tehran Times. No further information was immediately available.

Two Israeli officials told Reuters that Israel was not involved in Saturday’s blasts, which come amid heightened tensions between Tehran and Washington over Iran’s crackdown on nationwide protests and over the country’s nuclear program.

The Pentagon did not immediately respond to a request for comment.

US President Donald Trump said on January 22 an “armada” was heading toward Iran. Multiple sources said on Friday that Trump was weighing options against Iran that include targeted strikes on security forces.

Earlier on Saturday, Iranian President Masoud Pezeshkian accused US, Israeli and European leaders of exploiting Iran’s economic problems, inciting unrest and providing people with the means to “tear the nation apart.”

Bandar Abbas, home to Iran’s most important container port, lies on the Strait of Hormuz, a vital waterway between Iran and Oman which handles about a fifth of the world’s seaborne oil.

The port suffered a major explosion last April that killed dozens and injured over 1,000 people. An investigative committee at the time blamed the blast on shortcomings in adherence to principles of civil defense and security.

Iran has been rocked by nationwide protests that erupted in December over economic hardship and have posed one of the toughest challenges to the country’s clerical rulers.

At least 5,000 people were killed in the protests, including 500 members of the security forces, an Iranian official told Reuters.

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How a law used to protect synagogues is now being deployed against ICE protesters and journalists

After a pro-Palestinian protest at a New Jersey synagogue turned violent in October, the Trump administration took an unusual step — using a federal law typically aimed at protecting abortion clinics to sue the demonstrators.

Now, federal authorities are attempting to deploy the same law against journalists as well as protesters against Immigration and Customs Enforcement amid the agency’s at times violent crackdown in Minneapolis.

Former CNN anchor Don Lemon, a local journalist, and two protesters were arrested after attending a Jan. 18 anti-ICE protest at a church in St. Paul, Minnesota, Justice Department officials said Friday. Protesters alleged the pastor at Cities Church worked for ICE.

The federal law they are accused of violating, the Freedom of Access to Clinic Entrances Act, or FACE, prohibits the use of force or intimidation to interfere with reproductive health care clinics and houses of worship.

But in the three decades since its passage in 1994, the law had almost entirely been deployed against anti-abortion protesters causing disruptions at clinics.

That changed in September of last year, when the Trump administration cited the FACE Act to sue pro-Palestinian demonstrators at Congregation Ohr Torah in West Orange, New Jersey.

It was the first time the Department of Justice had used the law against demonstrators outside a house of worship, Harmeet Dhillon, an assistant attorney general for the department’s civil rights division, said at the time.

The novel legal strategy —  initially advanced by Jewish advocacy groups to fight antisemitism — is now front and center in what First Amendment advocates are describing as an attack on freedom of the press.

“I intend to identify and find every single person in that mob that interrupted that church service in that house of God and bring them to justice,” Dhillon told Newsmax last week. “And that includes so-called ‘journalists.’”

How the law has been used

The FACE Act has traditionally been used to prosecute protesters who interfere with patients entering abortion clinics. Conservative activists have long criticized the law as violating demonstrators’ First Amendment rights, and the Trump administration even issued a memo earlier this month saying the Justice Department should limit enforcement of the law.

But in September, the Trump administration applied the FACE Act in a new way: suing the New Jersey protesters at Congregation Ohr Torah.

They had disrupted an event at the Orthodox shul that promoted real estate sales in Israel and the West Bank, blowing plastic horns in people’s ears and chanting “globalize the intifada,” a complaint alleges.

Two pro-Israel demonstrators were charged by local law enforcement with aggravated assault, including a local dentist, Moshe Glick, who police said bashed a protester in the head with a metal flashlight, sending him to the hospital. Glick said he had acted in self defense, protecting a fellow congregant who had been tackled by a protester.

The event soon became a national flashpoint, with Glick’s lawyer alleging the prosecution had been “an attempt to criminalize Jewish self-defense.” Former New Jersey Gov. Phil Murphy pardoned Glick earlier this month.

The Trump administration sued the pro-Palestinian protesters under the FACE Act, seeking to ban them from protesting outside houses of worship and asking that they each pay thousands of dollars in fines.

At the time, Nathan Diament, executive director of the Orthodox Union Advocacy Center, told JNS he applauded the Trump administration “for bringing this suit to protect the Jewish community and all people of faith, who have the constitutional right to worship without fear of harassment.”

Diament did not respond to the Forward’s email asking whether he supported the use of the FACE Act against the Minneapolis journalists and protesters.

Mark Goldfeder, CEO of the National Jewish Advocacy Center, a pro-Israel group that says it uses legal tools to counter antisemitism, did not express concern over the use of the FACE Act in the Minnesota arrests — and emphasized the necessity of protecting religious spaces from interference.

“The idea that ‘you can worship’ means nothing if a mob can make it unsafe or impossible,” Goldfeder wrote in a statement to the Forward. “So if you apply it consistently: to protect a church in Minnesota, a synagogue in New Jersey, a mosque in Detroit, what you are actually protecting is pluralism itself.”

Goldfeder has also attempted to use the FACE Act against protesters at a synagogue, citing the law in a July 2024 complaint against demonstrators who had converged on an event promoting Israel real estate at Adas Torah synagogue in Los Angeles. That clash descended into violence.

The Trump administration Justice Department subsequently filed a statement of interest supporting that case, arguing that what constituted “physical obstruction” at a house of worship under the FACE Act could be interpreted broadly.

Now, similar legal reasoning may apply to journalists covering the Sunday church protest in Minneapolis. Press freedom groups have expressed deep alarm over the arrests, arguing that the journalists were there to document, not disrupt.

The arrests are “the latest example of the administration coming up with far-fetched ‘gotcha’ legal theories to send a message to journalists to tread cautiously,” said Seth Stern, chief of advocacy for Freedom of the Press Foundation. “Because the government is looking for any way to target them.”

The post How a law used to protect synagogues is now being deployed against ICE protesters and journalists appeared first on The Forward.

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