AGL 38.50 Increased By ▲ 0.93 (2.48%)
AIRLINK 131.50 Decreased By ▼ -1.00 (-0.75%)
BOP 5.61 Decreased By ▼ -0.03 (-0.53%)
CNERGY 3.83 Increased By ▲ 0.06 (1.59%)
DCL 8.65 Decreased By ▼ -0.22 (-2.48%)
DFML 40.80 Decreased By ▼ -0.20 (-0.49%)
DGKC 89.03 Decreased By ▼ -1.13 (-1.25%)
FCCL 35.27 Increased By ▲ 0.19 (0.54%)
FFBL 66.45 Decreased By ▼ -0.05 (-0.08%)
FFL 10.45 Increased By ▲ 0.30 (2.96%)
HUBC 109.65 Increased By ▲ 3.25 (3.05%)
HUMNL 14.66 Increased By ▲ 1.26 (9.4%)
KEL 4.83 Decreased By ▼ -0.03 (-0.62%)
KOSM 7.02 Increased By ▲ 0.17 (2.48%)
MLCF 42.40 Increased By ▲ 0.60 (1.44%)
NBP 59.06 Increased By ▲ 0.48 (0.82%)
OGDC 183.78 Increased By ▲ 2.53 (1.4%)
PAEL 25.55 Decreased By ▼ -0.15 (-0.58%)
PIBTL 5.90 Increased By ▲ 0.07 (1.2%)
PPL 147.32 Decreased By ▼ -1.08 (-0.73%)
PRL 23.53 Increased By ▲ 0.31 (1.34%)
PTC 16.64 Increased By ▲ 1.40 (9.19%)
SEARL 69.35 Increased By ▲ 0.56 (0.81%)
TELE 7.21 Decreased By ▼ -0.03 (-0.41%)
TOMCL 35.67 Decreased By ▼ -0.33 (-0.92%)
TPLP 7.50 Increased By ▲ 0.10 (1.35%)
TREET 14.15 Decreased By ▼ -0.09 (-0.63%)
TRG 50.80 Decreased By ▼ -0.05 (-0.1%)
UNITY 26.87 Increased By ▲ 0.47 (1.78%)
WTL 1.22 Increased By ▲ 0.01 (0.83%)
BR100 9,810 Increased By 42.5 (0.43%)
BR30 29,784 Increased By 384.5 (1.31%)
KSE100 92,319 Increased By 381 (0.41%)
KSE30 28,827 Increased By 83.3 (0.29%)

OTTAWA: Canada could fall into a “shallow recession” this year, according to a worst-case scenario outlined in the government’s budget on Tuesday, but Ottawa is planning for a slightly brighter outlook.

Private sector economists surveyed by Ottawa forecast gross domestic product ranging from a contraction of 0.2 percent to growth of 1.6 percent.

The government pegged economic growth at just 0.3 percent, rebounding to 1.5 percent in 2024 — both figures down from previous estimates.

Finance Minister Chrystia Freeland’s budget presented 15 to 30 percent tax credits to spur investment in tidal and nuclear energy, as well as extraction of critical minerals for EV batteries — seeking to narrow a gap with US subsidies for clean technologies.

It offered targeted inflation relief such as a grocery rebate for “the most vulnerable still feeling the bite of higher prices.”

Freeland also highlighted money recently announced for health care, and a new dental care plan for up to nine million uninsured Canadians.

The government vowed to crack down on hidden fees and predatory lending, and to bring in “right to repair” rules for electronics and home appliances, as well as common charging standards for phones and computers — similar to the EU — to cut costs and waste.

Comments

Comments are closed.