Boom of the Canadian economy and other news
The most important events from April 3 to 9.
Canadian economy
Inflation began to slow down in the country. In February, it was 5.2%, which is the lowest figure in the last year. Now Canada will aim for a key indicator of 2%. In March, the Bank of Canada for the first time didn't raise its key interest rate, leaving it at the same level of 4.5%.
In addition, the Canadian dollar strengthened against the U.S. dollar due to rising oil prices. This has a positive effect on the country's economy and the population's purchasing power.
Another factor that can positively affect the economy. Large deposits of graphite have been discovered in the country. It is an essential component of electric motors and batteries. With 77 countries committed to a green economy by 2050, graphite will become a critical commodity in global markets in the coming years.
And in March, Canada's labour market added 35,000 new jobs. At the same time, unemployment remains at the level of 5%. Most workplaces appeared in the transport sector, warehouses, business, construction, finance, real estate, rent, and leasing.
Other important news
NASA astronauts will fly to the Moon for the first time since 1972 on a new exploration mission. This time the crew of 4 will include a Canadian astronaut.
Two Canadian cities hit the top travel destinations. These are Edmonton in Alberta and Victoria in British Columbia. Both cities are known for their mild climate and many tourist attractions.
There is also negative news, for example, the sensational arrest of Donald Trump. Experts believe that this could adversely affect Canada.
Changes in immigration
The province of Alberta is making changes to its immigration program. In the Rural Entrepreneur Stream, the required amount of business investment will be halved to CAD 100,000. In the Alberta Express Entry Stream, 30% of invitations will be sent to healthcare professionals. And in the Rural Renewal Stream, requirements for towns that want to attract immigrants are simplified.
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Meanwhile, Quebec has once again postponed the launch of its Immigrant Investor program. Applications were closed in 2019 and have now been pushed back to January 1, 2024.
One of the most popular ways to immigrate to Canada is Express Entry. Not so long ago, the passing score dropped to a record low, and 7,000 candidates are invited in each draw. But is it easy to score enough points there? We figured it out.
Immigration draws
On April 4, a draw took place in British Columbia. The province selected 152 candidates among workers of various qualifications and graduates. Separately, childhood educators and healthcare specialists were invited.
On the same day, there were several draws in Ontario. The region selected 6 skilled refugees, 752 master's graduates, and 131 Ph.D. graduates.
On April 6, Manitoba issued 566 immigration invitations. They were received by skilled workers and graduates, as well as candidates with certain professions — supervisors, and specialists in sales and service.
Alex Pavlenko, founder of the Immigrant.Today emigration portal
