Canada: Budget 2021

Since the publication of the economic statement on November  30, economic conditions have improved significantly. The economic recovery has been progressing well since May 2020, and real GDP was at 97.4% of its pre-pandemic level in last January. Canada’s economy has notably shown great resilience during the second wave of COVID‑19, and everything points to this being the case again with the third wave. Many sectors, such as commodities and residential investment, are posting robust growth. The vaccination campaign is moving along smoothly, which is bringing some optimism. That said, the recovery is still uneven across various sectors. Some businesses and workers therefore continue to be greatly affected by the negative impacts of the pandemic.