Restarting Canada’s economy after a break of at least 2-3 months can be a huge challenge. This is after the COVID-19 pandemic that has shocked the whole world. Canada is the third most hit country in the continent of North America after the United States and Mexico. According to stats, the USA is the worst-hit country in the entire world. It also shares the world’s largest land border with neighbors Canada. Regarded as one of the most developed in the world. Hence, Canada is fully aware of the health and safety laws and procedures in place. The Govt. has made a gradual i.e. slow restarting of the economy. This is similar to restarting a car after days of mechanical works.
The most recent shutdown in Canada has literally changed the way most things used to happen in Canada’s economy. Health researchers have already indicated that managing this virus shall be a long term game, especially in North America. Huge in size in North America is both the countries i.e. Canada and the USA. Also, the number is decent for those affected in Canada. This also means significantly that COVID-19 will impact the economy for months, maybe years. However, restarting businesses can’t wait otherwise it shall hurt more in terms of financial losses. The reopening of businesses a step-wise process also can’t until the virus is completely eradicated.
Financial experts have claimed that lost wages from locked-down have ranged from $3billion to $6billion monthly. These are huge figures and shows the significance of the pandemic COVID-19 and its devastations. Restarting the business is also important for the social well-being of Canadians in the economy. Hence, also for the restoration of investor confidence in the market.
No comments:
Post a Comment