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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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The gift Tom Stoppard gave to me — and to all who adore him
In 2022, during a reporting trip to London, I had tea with a source who confessed to me that her mother’s central interest was the work of Tom Stoppard. It was more than an interest, really: “He was the main thing in her life,” she said.
There are artists you admire, and then there are artists you flat-out adore. Particularly cerebral types, like Stoppard, risk falling into the first category: They may generate great thoughts, but those great thoughts have a great chance of leaving you cold. That wasn’t the case for Stoppard, who died Saturday at 88, and was a thinker worth adoring. His best work achieved a rare balance: Audiences left his most affecting plays with both a fresh perspective on the world, and a feeling of great warmth toward it.
I felt that myself, after seeing a much-heralded revival of Stoppard’s Travesties on Broadway in 2018. It’s quite a highbrow play, about the brief intersection, in Switzerland during World War I, of the lives and work of James Joyce, Vladimir Lenin and Tristan Tzara, founder of Dadaism. It made me laugh until I cried. And the gloss Stoppard bestowed on this obscure episode of history followed me out of the theater, giving a brief sheen to everything and everyone I saw. I felt as though I floated back to Brooklyn, and as if the Q train might be full of personalities I’d never guess were important until years afterward.
Much of Stoppard’s work revolved around the question of what it really means to live an important life — one that is not just full, but has some kind of identifiable impact on others. The main character of Travesties isn’t Joyce, Lenin or Tzara; he’s an endearingly self-satisfied British diplomat, Henry Carr, who briefly found himself in the same circles as those luminaries. As the play opens, decades later, he’s trying to conjure up a memoir about his time in the presence of the greats, with the implication that he deserves to be considered among their ranks.
In Rosencrantz and Guildenstern Are Dead, the play that made Stoppard into a star at age 29, the two title characters grapple with their inability to in any way change the course of a narrative — that of Hamlet — that they know will lead to their deaths. In Shakespeare in Love, the film that won Stoppard an Oscar in 1998, he and his coauthor Marc Norman imagined the king of English playwrights as a young man full of talent but still struggling toward greatness, in need of an overwhelming emotional shock to propel him into complete ownership of his gifts.
There are the 19th-century Russian revolutionaries of the ambitious trilogy The Coast of Utopia; the intellectuals seeking to redefine the world and its history in Arcadia; the striving academics of The Hard Problem; the newly emancipated Viennese Jews of Leopoldstadt, the play Stoppard wrote that most profoundly invoked his heritage. Over and over, variations of the same question emerge. What does it mean to live completely and well, as an individual and a member of society?
“If there is any meaning in any of it” — “it” being the brutal course of history, its neverending cycles of destruction — “it is in what survives as art, yes even in the celebration of tyrants, yes even in the celebration of nonentities,” Joyce declares in Travesties. Later, Carr echoes him — a surprise, as the two hold very little respect for one another. When told that the only relevant function of art is “social criticism,” he protests.
“A great deal of what we call art,” he says, “has no such function, and yet in some way it gratifies a hunger that is common to princes and peasants.”
Not everyone wants to be an artist, and, as Carr reflects at the end of Travesties, it’s a sure thing that not everyone can be. But in the wake of Stoppard’s death, I’ve found myself thinking about the mother of my one-time source, so enraptured by what Stoppard created that her own child saw his work as the most profound passion of her life.
It’s easy to say that kind of effect made Stoppard’s life important. But the quieter story, I think, is that it made that devoted fan’s life important, too. Because she loved Stoppard, she saw herself as more firmly secured in her own existence; she saw herself as having a purpose and place.
To help someone experience their own significance — to gratify the common hunger that afflicts us all — is a great gift. And Stoppard gave it to many, including to me.
The post The gift Tom Stoppard gave to me — and to all who adore him appeared first on The Forward.
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Iran to Boycott World Cup Draw Over Visa Restrictions
Soccer Football – World Cup Playoff Tournament and European Playoff draws – FIFA Headquarters, Zurich, Switzerland- November 20, 2025 The original FIFA World Cup trophy is kept on display during the draws. Photo: REUTERS/Denis Balibouse
Iran intends to boycott next week’s World Cup draw due to the limited number of visas allocated to the country’s football federation.
According to the Tehran Times, the United States issued visas to only four members of Iran‘s delegation, with requests for three additional visas denied, including one for Iranian Football Federation (FFIRI) President Mehdi Taj.
“We have informed FIFA that the decisions taken are unrelated to sport and that the members of the Iranian delegation will not participate in the World Cup draw,” FFIRI spokesman Mehdi Alavi said on Friday, per the report.
Alavi said the federation has been in contact with FIFA in an effort to resolve the situation.
The World Cup draw will take place on Dec. 5 at the Kennedy Center in Washington, D.C.
The expanded 48-team World Cup is being hosted by the United States, Canada and Mexico from June 11 to July 19, 2026. Matches will be played at 16 venues, including three in Mexico and two in Canada.
The draw will sort the teams into 12 groups of four. The top two teams from each group and the eight best third-place teams will advance to the knockout stage.
Iran has secured a spot in its fourth consecutive World Cup and seventh appearance overall.
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Dublin to Rename Chaim Herzog Park in a Move Slammed as Attempt to Erase Jewish History
Anti-Israel demonstrators stand outside the Israeli embassy after Ireland has announced it will recognize a Palestinian state, in Dublin, Ireland, May 22, 2024. Photo: REUTERS/Molly Darlington
i24 News – Citing the Gaza war, Dublin city council voted to rename a park honoring Israel’s sixth president, the Irish-born Chaim Herzog, in further manifestation of anti-Israel sentiment in the country.
While a new name is yet to be chosen, reports cite efforts by pro-Palestinian activists to change it to the “Free Palestine Park.”
Former Irish justice minister Alan Shatter harshly criticized the vote, charging that “Dublin City Council has now gone full on Nazi & a committee of the Council has determined it should erase Jewish/Irish history. Herzog Park in Rathgar is named after Chaim Herzog, Israel’s 6th President, brought up in Dublin by his father, Yitzhak HaLevi Herzog, a friend of Eamon De Valera, who was Chief Rabbi of Ireland & Israel’s first Chief Rabbi… Some councillors want the Park renamed ‘Free Palestine Park.”
The Jewish Representative Council of Ireland issued a statement regarding the renaming of Herzog Park.
“It sends a hurtful and isolating message to a small minority community that has contributed to Ireland for centuries. We call on Dublin City Councillors to reject this motion. The removal of the Herzog name from this park would be widely understood as an attempt to erase our Irish Jewish history.”
A virtuoso diplomat and an intellectual giant, Herzog had served in a variety of roles throughout his storied career, including a memorable stint as the ambassador to the United Nations, where in 1975 he delivered a speech condemning the Soviet-engineered resolution to brand Zionism as a form of racism. The address is now regarded as a classic, along with the oration from the same session by the US Ambassador Daniel Patrick Moynihan.
Israel’s Foreign Minister Gideon Sa’ar slammed the decision, saying that Ireland’s “antisemitic and anti-Israel obsession is sickening.”
