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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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9 Israeli Soldiers Injured in Lebanon Fighting, 2 in Serious Condition
Two IDF soldiers. Photo: IDF.
i24 News – Two Israeli officers were seriously wounded and seven additional soldiers injured in two separate incidents in southern Lebanon, the Israel Defense Forces (IDF) said.
According to the military, the first incident occurred during the morning hours amid an encounter between Israeli forces and armed militants operating in the area.
During the engagement, an anti-tank missile was launched toward deployed troops, which the IDF said was fired by Hezbollah operatives. Two officers were struck in the attack, with one sustaining serious injuries and the second moderately wounded.
A second incident took place overnight in a separate sector of southern Lebanon, when Israeli forces operating in the area came under rocket fire. In that strike, one officer was seriously wounded and six soldiers were moderately injured, the IDF said.
The incidents come amid ongoing cross-border hostilities between Israel and Hezbollah, marked by repeated exchanges of fire and periodic ground confrontations in southern Lebanon.
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Report: Some 30 US Troops Injured in Iranian Attacks on Prince Sultan Air Base in Saudi
Screenshot of video of Saudi Arabia’s Air Force intercepts Iranian drones over Saudi airspace. Photo: Saudi Defense Ministry / Screenshot
i24 News – Over 12 US troops have been injured in Iranian attacks on a Saudi air base in the past week, the Associated Press reported on Saturday citing two people who have been briefed on the matter.
On Friday, the Islamic Republic launched six ballistic missiles and 29 drones at Saudi Arabia’s Prince Sultan air base, wounding at least 15 troops, including five seriously, according to the sources who spoke to AP on the condition of anonymity.
US officials initially reported that at least 10 US troops were injured, including two seriously wounded.
The base had come under attack twice earlier this week, including an incident that injured 14 US troops, according to the people who had been briefed on the matter.
Located some 100 kilometers from the Saudi capital of Riyadh, the base is run by the Royal Saudi Air Force, but is also used by US troops.
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At CPAC, a Generational Divide Over Republican Support for Israel
Gabriel Khuly, 19, and Joshua-Caleb Barton, 31, pose for a picture outside Generation Zion’s booth at the Conservative Political Action Conference (CPAC) USA 2026 at the Gaylord Texan Resort and Convention Center, in Grapevine, Texas, U.S., March 27, 2026. Picture taken with a mobile phone. REUTERS/Nathan Layne
When former Congressman Matt Gaetz opened his speech by aligning with a Republican faction “loyal to only one nation,” his message to the Conservative Political Action Conference was clear: It was a veiled swipe at perceived Israeli influence over US politicians, even without naming Israel outright.
A month into the US-Israeli war with Iran, Gaetz’s comments struck a discordant note at the annual CPAC event. They cut against calls for unity and exposed a growing Republican rift largely along generational lines, as younger conservatives increasingly question support for Israel.
That skepticism reflects a broader distrust of military intervention among younger Republicans, fueled in part by conservative figures such as Tucker Carlson, whose allegations of excessive Israeli influence on US policy have drawn accusations that he is stoking antisemitism. Carlson has repeatedly denied accusations of antisemitism.
The Iran war, including Israel’s role in it, emerged as one of the main flashpoints at CPAC, which for decades has served as a central gathering for Republican politicians and activists.
Jack Posobiec, a conservative commentator and online influencer, said age 45 is a dividing line, with the younger cohort more likely to question the party’s steadfast support of Israel.
“People want to paint it off as if it’s antisemitism, but I don’t think that’s what it is,” Posobiec told Reuters. “It’s just a question of: Why? What is the purpose of this relationship? And I hear that a lot from young voters.”
The issue has roiled the Democratic Party in recent weeks, with some lawmakers and primary candidates distancing themselves from the pro-Israel lobbying group AIPAC amid growing unease over Israel’s military actions.
It is now exposing fault lines among Republicans as well, turning off young voters who helped propel Trump to victory in 2024 and potentially complicating the party’s efforts to defend slim majorities in the Senate and House of Representatives heading into November’s midterm elections.
Noah Bundy, 17, and Ryder Gerrald, 18, conservative friends from Georgia attending their first CPAC, said they opposed the war with Iran and questioned whether the military operation put Israel’s interests ahead of America’s.
“I think they totally pushed us into a war with Iran,” Bundy said. “My whole family is military and none of us is really for it.”
“Our younger generation, we don’t like Israel as much compared to the older generation,” said Gerrald. He said he would prefer redirecting US taxpayer dollars toward domestic priorities, rather than spending to bolster Israel’s military.
EVANGELICAL SUPPORT FOR ISRAEL
The party’s pro-Israel stance, however, resonates strongly with evangelicals – a pillar of Trump’s political base – and with older voters like Harry Strine III, an 83-year-old CPAC attendee who was wearing a red “Make America Great Again” hat.
“Israel is God’s people,” Strine said. “The US was founded on the Judeo-Christian belief. I guess I’m a traditionalist.”
On the conference’s opening day, Rev. Franklin Graham said that, by striking Iran to protect Israel, President Donald Trump was like the biblical figure of Esther, a Jewish queen who, according to scripture, was elevated by God to save her people from annihilation in ancient Persia.
“I believe God has raised him up for a time such as this, like Queen Esther,” said Graham, a prominent Christian evangelist, invoking a core evangelical belief that the modern state of Israel represents the fulfillment of biblical prophecy.
But unease over the Iran war and rising gasoline prices has pushed Trump’s approval rating down to 36% – its lowest since his return to the White House – a Reuters/Ipsos poll completed on Monday found. Support among his core base remains strong, however, with 74% of Republicans backing the strikes on Iran.
The debate over Israel coincides with a broader Republican fight over the future of the MAGA movement and who belongs in it. Allegations of antisemitism flared at a December event organized by Turning Point USA, a nonprofit focused on promoting conservative politics. At its first national event since founder Charlie Kirk’s death, commentator Ben Shapiro criticized fellow conservatives for associating with figures like white nationalist streamer Nick Fuentes, who has praised Hitler.
In his CPAC speech on Thursday, Gaetz said he did not agree with Shapiro and other conservative commentators “that we have some sort of near slavish loyalty to a country in a faraway land,” an apparent reference to Israel.
He argued that conservatives needed to allow for disagreements and that “antisemitism isn’t hiding around every corner and in every bush.”
Visitors to the CPAC booth of Generation Zion, a nonprofit group that trains young Christians and Jews to advocate for Israel and to combat antisemitism, could pick up a sticker reading “Tucker Carlson Hates Me,” a rebuke of the commentator’s recent criticism of Christian Zionism and Israel’s alleged sway over U.S. politics.
Gabriel Khuly, a 19-year-old volunteer for the group, said that while the Republican Party has an antisemitism problem, it is driven by a small minority with an outsized voice online.
“The actual anti-Israel, antisemitic wing of the Republican Party, I think, makes itself seem a lot bigger than it really is.”
