Economic Overview of Quebec’s Regions in 2020 and 2021

The current COVID-19 crisis caused economic growth to fall sharply regionally and provincially in Quebec in 2020 (graph 1). However, Quebec’s regional and provincial economies are expected to Quebec’s regional and provincial economies are expected to rebound in 2021. In fact, the economy began to recover as soon as the lockdown started easing in May, but the recovery will be gradual. Quebec’s regions are expected to return to the pre-pandemic level of economic activity sometime around mid-2022. However, the forecasts could be trimmed should a major second wave occur. This represents the most significant risk at the present time in the forecast scenario. The health and economic crisis continues to affect many countries, and uncertainty remains.