express entry visa canada

Fall Economic Statement: Immigration key to Canada’s economic recovery

Express Entry Immigration

Express Entry Visa Canada gives a tremendous opportunity for professionals to live and work in Canada. While living in Canada, you will feel closer to your home, as Canada accommodates people from different backgrounds. The country is a home for many overseas skilled workers due to its affordable housing, friendly environment, and diverse economy. Express Entry Visa Canada is one of the best choices that you can make to get Canadian PR. However, it is also known as the fastest immigration program.

The Express Entry is an online system designed to help immigrants worldwide. It is helpful to make the immigration process quite friendly for professionals to avail of PR benefits. Moreover, interested candidates for PR can initially submit their applications. These applications will undergo a processing time of 6 months, or the time could be less.

Fall Economic Statement

Chrystia Freeland is the current finance minister of Canada. The minister revealed an important update on November 30. He told how the government of Canada would continue supporting the economy during the coronavirus pandemic.

The finance minister of Canada provides an overview of the country’s fiscal and economic situation every fall. However, the 2020 version of this update is quite crucial due to the COVID-19 crisis.

There was a significant decline in Canada’s economic growth due to COVID-19, and many people lost their jobs during the pandemic. However, Canada started to get recovery during the summer months. In recent months, the cases have been increased to a great extent. Therefore, the government imposed a fresh round of lockdown in some parts of the country, such as Toronto.

The finance department of Canada announced that Canada would run a deficit of over $340 for supporting the economy during the COVID-19 crisis. They said it earlier this year. However, according to today’s update, the department has revised this figure to over $381 billion.

Canada has taken many measures in 2020 to support their economy and jobs during the coronavirus pandemic. Canada Emergency Response Benefit (CERB) is an integral part of those measures. It provides income assistance for the workers affected by COVID-19. Moreover, Canada is also offering measures like rent and wage assistance for employers.

Canada’s Population Growth

According to the Fall Economic Statement, Canada is facing a decline in permanent and temporary residents’ arrival. COVID-19 has dramatically affected the arrival of residents to Canada. It suggests that the population growth of Canada will fall to around 1% this year. However, this growth was 1.4% percent in each of 2018 and 2019. Weak levels of immigration are significantly affecting the labor force and economic growth of Canada.

To highlight the importance of immigration in the Canadian economy. The statement notes that immigration has supported almost half of the country’s real GDP growth from 2016 to 2019.

Canada is already working on its post-COVID-19 immigration plans to welcome new skills and talents to Canada. Canada is planning to invite more professional and talented workers after the pandemic. However, it will be helpful for the country to support the recovery of jobs and economic growth.

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Canadian Immigration Plans

The immigration minister of Canada listed the most ambitious immigration plan in late-October. However, the new immigration plans are better than any plans in history. Canada is willing to welcome 400,000 new permanent residents every year, according to the 2021 – 2023 Immigration Levels Plan.

According to today’s statement, Canada’s federal government will give IRCC $72 for modernizing the Global Case Management System. They will advance the system into a digital platform.

The primary purpose of this investment is to advance the world-class immigration system in Canada. They are planning to enhance client services, program integrity, and operational efficiency. It will ensure a higher level of Canada’s services and internal capacity to welcome new talents and skills.

Overall, the statement highlights that the Canadian government will spend $750 million between 2021 and 2026. This investment will support higher immigration levels in Canada.

Read More: Canada extends travel restrictions into the new year

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