Canada’s GDP to contract by 7.1% in 2020: IMF | Kalkine Market Update CA |

1 min read | October 14, 2020 02:00 PM PDT | By Team Kalkine Media

The country's economy will grow by 5.2 percent in 2021, projected the International Monetary Fund.

Global economy set to contract by 4.4 percent due to the COVID-19 pandemic, it added.

The world economy will expand by 5.2% next year, but the recovery would be long, "uneven and uncertain,” added the international monetary organization.

* Kirkland Lake (TSX:KL) reports Q3 2020 production results, announces dividend

The latest quarter (ending September 30, 2020) production was 339,584 ounces, up 37 percent year-over-year.

Kirkland also announced a quarterly dividend of US$ 0.1875 per share. The company closed the quarter with US$848 million in cash and no debt.

* CRA opens application window for Canada Recovery Benefit

After the initial technical glitch, the Canada Revenue Agency’s website is now up and running. Canadians can apply for Canada Recovery Benefit (CRB) program by applying on the official website.

The CRB will pay C$ 500/week for up to 26 weeks.

The federal government is also providing caregiver benefits and sick leave benefits.


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