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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 Strikes More Than 90 Iranian Military Targets on Kharg Island, CENTCOM Says
A satellite image shows an oil terminal at Kharg Island, Iran, February 25, 2026. Photo: 2026 Planet Labs PBC/Handout via REUTERS
United States forces executed a large-scale precision strike on Kharg Island in Iran on Friday night, the US Central Command said on Saturday.
“US forces successfully struck more than 90 Iranian military targets on Kharg Island, while preserving the oil infrastructure,” CENTCOM said.
The strike destroyed naval mine storage facilities, missile storage bunkers, and multiple other military sites, the US military said in a post on X.
President Donald Trump threatened on Friday to strike the oil infrastructure of Iran’s Kharg Island hub, unless Tehran stopped attacking vessels in the Strait of Hormuz.
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North Korea Fires Ten Ballistic Missiles Toward the Sea of Japan
North Korean leader Kim Jong Un and wife Ri Sol Ju inspect an honour guard before leaving Pyongyang for a visit to China, this January 7, 2019 photo released by North Korea’s Korean Central News Agency (KCNA) in Pyongyang January 8, 2019. Photo: KCNA via REUTERS.
i24 News – North Korea fired roughly ten ballistic missiles toward the Sea of Japan on Saturday, the South Korean military reported, marking a new act of defiance amid Seoul and Washington’s annual joint military exercises.
The launches, originating from the Sunan area near Pyongyang, were detected around 1:20 p.m. local time, according to a statement from the South Korean Joint Chiefs of Staff.
The missiles were directed toward the East Sea—the Korean name for the Sea of Japan—though details on their range or trajectory were not immediately available. Earlier, the South Korean Ministry of Defense had already confirmed the launch of at least one unidentified projectile in the same area.
The Japanese Ministry of Defense also verified the incident, noting that a suspected ballistic missile had been launched from North Korea.
The launches come amid rising tensions on the Korean Peninsula. Since Monday, the United States and South Korea have been conducting their annual joint exercises, which will continue through March 19 and involve approximately 18,000 South Korean troops alongside an unspecified number of U.S. forces.
Pyongyang has sharply criticized the drills, calling them a rehearsal for invasion. Kim Yo Jong, the influential sister of North Korean leader Kim Jong-un, warned this week that the exercises could trigger “terrible and unimaginable consequences.”
The missile tests also coincide with fading prospects for inter-Korean dialogue. Kim Jong-un recently dismissed outreach efforts from South Korean President Lee Jae Myung, labeling Seoul “the most hostile enemy.”
The show of force occurred just hours after South Korean Prime Minister Kim Min-seok, during a visit to the United States, mentioned a potential meeting between U.S. President Donald Trump and Kim Jong-un—a meeting Washington still considers possible.
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Dutch Authorities Investigate Explosion at Jewish School Claimed by Extremist Group
Police outside a Jewish school following an explosion that caused minor damages, in Amsterdam, Netherlands, March 14, 2026. Photo: REUTERS/Piroschka van de Wouw
i24 News – An explosion struck a Jewish school on Zeelandstraat in Amsterdam-Buitenveldert during the night between Friday and Saturday, Dutch authorities confirmed. Emergency responders, including police and firefighters, acted swiftly, and officials reported that the building suffered only limited damage. No injuries have been reported.
Mayor Femke Halsema described the incident as a deliberate attack against the Jewish community in the city, emphasizing that the authorities are treating the case “very seriously.” Security camera footage showing the individual who detonated the device is under investigation.
In an unverified online video, previously little-known group identifying itself as Ashab Al Yamim later claimed responsibility for the blast. The group released online footage appearing to show the small explosion followed by a fire outside the school. Its logo was also seen in videos related to an attack on a synagogue in Rotterdam earlier this week.
Dutch investigators are coordinating with the judiciary to determine the full circumstances of the attack and whether additional suspects were involved. Authorities noted that the organization had not been previously known to security services.
The explosion comes amid rising security concerns for Jewish institutions across Europe, following heightened tensions in the Middle East. The group behind the claim has also alleged responsibility for previous incidents targeting Jewish sites in Europe, including attacks in Liège, Belgium, and Rotterdam, though these claims remain unverified.
Jewish schools, synagogues, and community centers across the continent have stepped up security measures in recent weeks amid fears of potential threats to Jewish communities.