Reopening Canada: The economy survived the crash, but making it thrive again will depend on all of us
Chrissy Durcak, chief executive and founder of Montreal-based Dispatch Coffee, was talking about her company, but she could have been talking about the broader economy, too.
In April, the COVID-19 crisis was so terrible that the Bank of Canada couldn’t rule out the possibility that we were in the early stages of a depression. While not its base case, the central bank said the damage from an extended lockdown could be so great that “future growth would be severely dampened, with economic activity remaining below its pre-pandemic level for an extended period.”
We appear to have avoided the worst-case scenario.
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