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Canada’s economy growing as fast as that of the US post COVID-19

Canada’s economy growing

Canada’s handling of the COVID-19 crisis has once again proved that the country is the best place to settle in with family. The country’s success in effectively tackling the spread of COVID-19 has resulted in a fast recovery of the Canada’s economy from the impact of the pandemic.
In Canada, the daily number of new cases is only less than 500 and its economy is now growing twice as fast as that of the US. Six largest banks of the country predict that Canada’s economy would be growing at a rate of 36 per cent in the current quarter of the financial year, while the economy of the US is expected to grow at a rate of 20 per cent.
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Besides, the economic activity of Canada has also recovered to about 95 per cent of the pre-pandemic levels. This is mainly attributed to the increase in employment, revival of the housing sector as well as credit card spending.
The provinces of Canada had started to re-open their economies as early as in May. The federal government also announced a fiscal support of $300 billion in wage subsidies, income support and more, which laid the foundation for the fast recovery of the economy.
On the contrary, many states in the US are yet to re-open their economies fully as the numbers of COVID-19 cases remain high. While the total number of COVID-19 cases in the US is above 5.5 million, in Canada it is just 123000.

Further, while the US tightened the immigration rules and almost restricted the entry of immigrants to the country as part of the measures to tackle COVID-19 crisis, Canada is going ahead with its immigration goals set for the year. Canada is still conducting immigration draws at both federal and provincial level as well as accepting and processing applications for immigration. So if you have plans to migrate to Canada, start the preparations right away so that you may move to the new country without delay!

For professional assistance on migrating to Canada, kindly contact the expert Canada immigration consultants of CanApprove With more than two decades of experience, we can provide you the right guidance and support for making your migration process hassle-free and successful.

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