Examining the financial toll of the pandemic and the key measures implemented to stabilize economies.
The COVID-19 pandemic triggered an unprecedented global economic downturn. The world economy is projected to lose nearly $8.5 trillion in output over two years, erasing the progress of the previous four. In response, countries introduced massive financial aid programs. In Canada, the Canada Emergency Wage Subsidy (CEWS) alone came at an estimated cost of $73 billion, aiming to support businesses and workers through economic uncertainty.
