International Monetary Fund expects the Canadian economy to recover this year

The International Monetary Fund predicts that the Canadian economy will recover by 4.4% this year after contracting by 5.4% in 2020, and the International Monetary Fund added that the US stimulus package of 1.9 trillion US dollars will boost Canadian growth further.

The International Monetary Fund said that the Canadian government has been strong, decisive and well-coordinated in its response to the epidemic and that direct financial support during the pandemic has added up to about 15% of GDP, and the IMF’s Executive Board emphasized in its annual report that “the size and scope of policy support In Canada it was unprecedented during the epidemic. "

The International Monetary Fund stated that "the recent sharp rise in public debt increases the importance of clearly defining a medium-term financial anchor to protect against a possible weakening of credibility in the financial framework." Canadian net debt rose to 48% of GDP in 2020 from 23.4% per year. the previous .