The pace of Canada’s COVID-19 vaccine rollout, which has lagged that of many other developed nations, is expected to be drag on the country’s economic recovery in the short-term and may have long-term implications as well, according to economists and business groups monitoring the situation.
Trevin Stratton, chief economist at the Canadian Chamber of Commerce, said the lagging rollout will have an impact on business survival and the economic recovery, particularly in the hardest-hit industries.
“We will be looking at a greater number of business closures … the longer the vaccine rollout takes,” he said. “That means fewer businesses to propel recovery and fewer jobs and salaries to contribute to demand and consumption.”
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