15th, Sep 2023

The House of Commons will discuss Canada’s strategy for economic growth

The House of Commons will debate Canada's economic growth strategy on September 18, 2023. Canada's real GDP per capita growth has been anemic at 0.5% annually over the past five years and is the fifth weakest among 38 Organisation for Economic Co-operation and Development (OECD) countries.

Canada's per capita GDP growth has been negative over the past year. Real incomes are lower than before the pandemic, with a $1,200 drop in income per person or a $2,830 drop per household compared to 2019.

Canada is not expected to recover its 2019 income per capita until at least 2027.

The OECD forecasts that Canada will have the lowest real GDP per capita growth and will be the worst-performing advanced economy over 2020-2030 and 2030-2060.

#OECD, #economic_growth, #GDP


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