Canadians have been urged to brace up for the coming year as Prime Minister Justin Trudeau has stated that 2023 will be a tough year for the nation.
This is even as indices have continued to grow that Canada could be headed for a recession.
It could be recalled that in an International Monetary Fund (IMF) assessment released earlier this month, the global financial agency warned that Canada is at risk of tipping into a “mild recession,” despite outperforming its G7 counterparts.
The IMF warning comes after years of global economic upheaval — the result of several colliding factors, including the COVID-19 pandemic shutdowns and supply chain chaos, and Russia’s war in Ukraine.
In an interview with Global National’s Dawna Friesen, the PM averred that while the resulting interest rate hikes, ballooning inflation and sky-high cost of living have battered Canadians’ bank accounts in 2022, 2023 isn’t looking any better.
The Canada number one citizen said “Next year is going to be tough, too. It’s going to be a tough year”.
However, Trudeau expressed optimism that Canadians will “get through” the year ahead if they stick together, and pointed to what he described as “direct supports for Canadians” from the government.
He added that “The coming winter is going to be tough for people, and that’s where we need to continue to pull together”.
When asked to state examples of these “direct supports,” Trudeau pointed to the GST rebate, dental care, and low-income rental supports.
But he pushed back on the idea of implementing supports on the scale that the government rolled out during the COVID-19 pandemic. Any support, Trudeau said, will have to be “targeted” to avoid fuelling inflation even higher.
The PM also harped on how the Russia and Ukraine war has been a source of economic pain around the world. Between of its impact on supply chains and Moscow’s decision to squeeze Europe’s energy supplies, the conflict is fueling rising interest rates around the world and continuing to challenge supply chains, in particular with energy and food.
Trudeau said “We know that for all the challenges Canadians are facing with inflation, with food prices, with energy prices, it’s much worse in Europe and it’s much worse for Ukrainians”.
“When we’re dealing with higher prices in the grocery store — which is no fun, it hurts — Ukrainians are paying with their lives.”
Even though the conflict continues with no end in sight, Trudeau told Friesen he is “hopeful that it will not last indefinitely. We are ready to stick with it as long as possible”.
“Every conversation I’ve had with (Ukrainian President) Volodymyr Zelenskyy, or other Ukrainians, shows that they are ready to stand strong and push back against Russia as long as it takes — and we will stand with them as long as they need to.”
During the intensive interview, Trudeau, when asked to reflect on this growing trend, said there are “going to be people who disagree with any position that we take.”
“You can’t govern for eight years, now, and do significant things, as we have, and keep everybody onside all the time”.
He continued that the pushback, tells him Canada needs “more good people” to get involved in politics — but the growing anger is making that increasingly difficult.
The PM also said “It’s hard to convince people to get involved in politics now. It’s harder to find good candidates. It is harder to convince people to step forward and represent their communities.”
However, the leader believes Canada is well-positioned in a changing world and that there is much Canadians can be proud of even amid challenging times.
“There is so much to be proud of in this country. There’s so much to know that we are capable of meeting and conquering any challenge that comes our way”.
“That for me, it is the greatest privilege of my life to be able to serve Canadians in this role and to know that I’m going to get to do it for many more years.”
According to reports, Canada plans to grow economic ties in India and Southeast Asia, while further strengthening existing ties with Japan and South Korea.
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