covid-19 economy Coronavirus economics

City of Winnipeg considering three projections for COVID-19’s impact on finances

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globalnews.ca

Winnipeg mayor proposes shifting future federal transit funds to sewage plant project A moderate scenario — with no vaccine available and restrictions lifted for international and domestic borders after spring break next year — would see Winnipeg’s GDP rise 2.1 per cent for 2021 with employment at 8.5 per cent next fall.The worst case scenario — with closed borders, no vaccine and a second wave of COVID-19 — involves a projected 0.7 per cent GDP increase for fall 2021 and unemployment at 9.5 per cent this time next year.“Our first round of scenarios are being used in financial analysis and planning,” Markowsky said. “We should continue to update our scenarios as new data becomes available, and these scenarios should be considered for.

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