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    Covid and Cananada

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    Sidra Nazir
    The Canadian government spent heavily to cope with the COVID-19 pandemic and support its citizens. Programs were launched to provide emergency aid, wage subsidies and business loans. The government also invested in healthcare and vaccination. Plans were made to stimulate economic recovery through investment, job creation and supporting unemployment. Fiscal policies aim to generate revenue and cut expenditures to address Canada's current account deficit.

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    Covid and Cananada

    Uploaded by

    Sidra Nazir
    5 views3 pages
    The Canadian government spent heavily to cope with the COVID-19 pandemic and support its citizens. Programs were launched to provide emergency aid, wage subsidies and business loans. The government also invested in healthcare and vaccination. Plans were made to stimulate economic recovery through investment, job creation and supporting unemployment. Fiscal policies aim to generate revenue and cut expenditures to address Canada's current account deficit.

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    about covid 19 related to cananda

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    covid and cananada

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    The Canadian government spent heavily to cope with the COVID-19 pandemic and support its citizens. Programs were launched to provide emergency aid, wage subsidies and business loans. The government also invested in healthcare and vaccination. Plans were made to stimulate economic recovery through investment, job creation and supporting unemployment. Fiscal policies aim to generate revenue and cut expenditures to address Canada's current account deficit.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    5 views3 pages

    Covid and Cananada

    Uploaded by

    Sidra Nazir
    The Canadian government spent heavily to cope with the COVID-19 pandemic and support its citizens. Programs were launched to provide emergency aid, wage subsidies and business loans. The government also invested in healthcare and vaccination. Plans were made to stimulate economic recovery through investment, job creation and supporting unemployment. Fiscal policies aim to generate revenue and cut expenditures to address Canada's current account deficit.

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    You are on page 1of 3

    Part 3

    In the start on the covid 19, the Canadian govt has done every possible effort to cope with the
    pandemic and to provide best to its nation with minimization of the economic crises. As it has
    spent 8/10 dollar to the pandemic by the federal govt. till than Canada has invested 1 billion
    dollar for the vaccination of the covid 19. So Canada has more diverse and protective portfolio of
    the vaccination as compared to the world.

    Canada has allotted the force to support the people and stop the spread of the pandemic and give
    assistance to the senior citizens. When the covid 19 hit the Canada the Canadian emergency
    response benefit, and CEBA the Canada Emergency Wage Subsidy and the Canada Emergency
    Business Account was come in to field to work and develop quickly for the pandemic. They also
    help the health care and front desk health provider also.

    In the last winters the health care centers tried to provide better facilities like ventilation in
    buildings, also the wage rate was subsidies 75%. As lots of programs have launched but the govt
    besides govt has faced decline in the revenue as lots of people were in the home to fight with the
    covid 19.

    The govt has planned for the growth and after the control of the virus the govt has develop
    thither year’s package to stimulate the recovery. To get the GDP growth at 3 to 4 % high. There
    is need have fiscal support to have long term benefit and to stop the covid 19. In the growth plan
    the Canadian govt includes the investment to have prosperity, good life and green
    transformation, also it include millions of jobs opportunities, to settle done the unemployment.
    As without the support there is high gap between with support unemployment rate, also there is
    done payment for the investment to aciculate the growth in long term. All these plans are leading
    in budget 2021. The main program is on health and job recovery in clean environment. There are
    also announcement of have 2 billion trees in next ten years.as in figure we can see that Canada
    has face negative current account balance since last ten years, so the need to have flexible fiscal
    policies to generate the revenue. The government expenditure has also increased since last three
    years and during pandemic there is need to cut down extra expenditures.
    Current account balance (% of GDP)
    0
    2011 2012 2013 2014 2015 2016 2017 2018 2019
    -0.5

    -1

    -1.5

    -2

    -2.5

    -3

    -3.5

    -4

    General government final consumption expenditure (% of


    GDP)
    21.4

    21.2

    21

    20.8

    20.6

    20.4

    20.2

    20

    19.8
    2011 2012 2013 2014 2015 2016 2017 2018 2019

    Part 4

    The Canadian bank has adopted the following key measures in term of monetary policy

    1. Reducing the overnight bank rate


    2. Extend the bond backed programs
    3. Backers acceptance facilities
    4. The money market purchases are announced
    5. Liquidity facilities for standing US dollar
    6. Mortgages programs
    7. 150$ insured mortgages
    8. Farm credit to receive support about 5.2 billion dollars

    The inflation targeting monetary policy has been launched successfully. To focus on the demand
    and productive capacity. Need to have tools to influence demand and bring supply inline. In
    covid 19 the inflation targeting policy includes low interest rate.

    In the Canada the financial sector has lowered the interest rate about 1/4rth to help the economy
    from the crises of covid 19. This will help the business man in payments for new and privies one.
    There are also different programs are made to have liquidity of the money for easy flow of the
    cash and by cutting down interest are for function of the economy. Banks are also providing easy
    long term credits to the investors to support the pandemic crises. By the monetary stimulus.

    The Canadian bank mainly handles the three challenges to provide economy stimulus, inflation
    targeting and massive destructions in economy in asset and liabilities.

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