By Marco Aquino
LIMA (Reuters) – Peru’s economy contracted 18.06% in June versus the same period a year earlier, the South American country’s government said on Saturday, the fourth straight month of contraction due to the impact of the novel coronavirus pandemic.
Peru, the world’s no. 2 copper producer, imposed a strict lockdown in March, though has recently looked to reopen key sectors of the economy.
The June drop is less severe than the 18.15% contraction analysts had estimated in a Reuters poll, and a step up from the 32.75% GDP decline in May.
In the first half of the year, the economy contracted 17.37% compared with the same period last year, Peru’s official INEI statistics body said, while it dropped 7.25% in the 12 months to June.
(Reporting by Marco Aquino; Writing by Aislinn Laing; Editing by Marguerita Choy)
GUEST OPINION: Trails can stimulate the economy in Atlantic Canada – TheChronicleHerald.ca
here are many things that this pandemic will have taught us, however for many it has reinforced the value of trails and greenspaces.
As a trail professional of nearly 20 years I’ve always valued trails and greenspaces, however in this fast-paced world with ever-changing technologies, many people began to take the great outdoors for granted.
With limited activities to do during the pandemic and many people stuck in the house most of the day, the opportunity to get outside and breathe some fresh air is now becoming something that is vital for their well-being.
These days I’m inundated by Facebook posts, tweets or Instagram posts of people relishing in the outdoors and thankful to have access to trails and greenspaces. As we begin to become accustomed to a new normal, it’s time for us as a society to start thinking about getting back to some of the more simple things in life and how these things can act as both a social and economic catalyst for communities. Many of these things don’t need to be complicated, but can have a tremendous impact as we begin to come back from the ramifications of COVID-19.
One of these opportunities is to foster the development of a trail economy. Many countries have capitalized on the trail economy; however Canada and Atlantic Canada have not come close to realizing the potential it has in developing a strong economy based on greenway trails. The trail economy is the idea of generating both indirect and direct revenue through the development and promotion of trails as a product.
This however is not a “build it and they will come” scenario; it requires significant engagement between trail managers working hand in hand with outfitters, business owners and community leaders to ensure that there is a strong integration between all stakeholders. What it doesn’t require, however, is significant investment of funds to get these relationships developed.
Prince Edward Island is perfectly positioned to take advantage of the trail economy and is in a unique position as an established tourist destination. The Island is well known for their hospitality and many people consider P.E.I. as a premier vacation destination.
The Confederation Trail provides tourists and residents alike with a 450-km trail that spans the province and provides access to many of the most scenic coastal regions on the Island. A feature that the Confederation Trail has over many of its counterparts is the relative short distance between communities thus allowing trail tourists with good access to food and beverage, accommodation and other critical amenities to ensure that they have a memorable experience.
It’s now time for these communities and the provincial government to take advantage of this feature and ensure that they are properly equipped to take on the task of welcoming these tourists to their beautiful towns and villages. The development of programs such as Trail Towns, where the business community and other key stakeholders work together to assess their attributes and work together to fill in their service gaps in the next key step of the development of the Confederation Trail as a tourism product.
Trails and greenspaces connect us to the land, the people and histories of our communities. With many people staying close to home this year and perhaps in the years to come, let’s take this time to get better connected, learn more about the region, create a stronger and healthier population and a more vibrant economic outlook for Atlantic Canada.
Jane Murphy-McCulloch is a principal at Terminus Consulting and was national director of Trail with the Trans Canada Trail, developing 10,000km of land and water trail along with road cycling infrastructure to ensure the successful connection to the national trail system in 2017.
UPDATE – Canadians Say Economy Needs to Change – GlobeNewswire
UNCEDED TERRITORIES OF MUSQUEAM, SQUAMISH AND TSLEIL-WAUTUTH NATIONS and VANCOUVER, British Columbia, Sept. 22, 2020 (GLOBE NEWSWIRE) — Most Canadians think the economy is not working the way it should and many say its needs to be changed to better address climate change and the problem of inequality, according to new research released today by Environics Institute and Vancity.
A Better Canada: Values and Priorities after COVID-19 is a comprehensive study of public opinion on Canadians’ expectations from governments, from corporations and from each other. The survey of more than 3000 Canadians was conducted at the end of August 2020, roughly five months after the COVID-19 pandemic took hold.
Key findings of the report include:
- A plurality (44%) of Canadians think the way that our economy works needs to be changed ‘fundamentally’. Only five per cent think that the way our economy works is fine the way it is.
- Three in four (73%) agreeing that the government should reduce the gap between the rich and the poor.
- One in three Canadians (32%) say they’ve experienced more depression, anxiety or panic attacks as a result of COVID-19, and almost three in ten say they’ve had difficulty sleeping.
- One in four Canadians (23%) say that they owe a lot more (10%) or a little (13%) more than they can afford in terms of their credit cards and loans (excluding mortgages).
- Almost two in three (64%) Canadians say they think of taxes as mostly a positive thing because they’re how we pay for the important things that make our quality of life good, such as health care, education and roads – down 11 points since the question was last asked in 2011.
- Four in five Canadians (82%) favour the idea that corporations have to be responsible to their employees and communities, and that this is as important as profits.
- Four in five (81%) – including 93 per cent of parents with young children – agree that Canada should be a country where affordable and high-quality daycare for young children is available to all parents who need it.
- Four in five (82%) Canadians also agree that Canada should be a country with a social safety net that helps everyone facing difficult economic circumstances.
- 69 per cent of Canadians agree that people who are addicted to drugs should be provided with treatment by the public health care system and not treated like criminals.
- Canadians remain supportive of the country’s universal, publicly-funded health care system, with almost nine in ten (87%) agreeing – including 57 per cent who strongly agree – that Canada should be a country with a public health system that covers everyone, that is fully supported through taxes
- A majority of Canadians think that investing more in clean energy technologies and environmentally friendly businesses can make it possible to combine a faster economic recovery with action on climate change.
- Albertans are more likely to mention both the environment and the need to diversify the economy as reasons why fundamental change to the economy is needed.
Quote from Christine Bergeron, Interim President and CEO, Vancity:
“Rising inequality was a pre-existing condition of the Canadian economy before the pandemic hit but the problem has been laid bare by COVID-19. Our research shows that Canadians want change, and they want action on climate and inequality. We’re at a clutch moment in our history as our governments consider how best to recover from the impact of the COVID crisis. We have the opportunity to build the kind of society Canadians want, one that is greener and more just.”
Quote from Michael Adams, founder and president, Environics Institute for Survey Research:
“This survey finds that Canadians are feeling anxious but also resilient and want to see policies that would better protect those who have borne the brunt of the pandemic’s impact. And rather than fiscal retrenchment, citizens continue to want public spending that promotes social and environmental justice.”
A Better Canada: Values and Priorities after COVID-19 can be found online here.
Vancity is a values-based financial co-operative serving the needs of its more than 543,000 member-owners and their communities, with offices and 60 branches located in Metro Vancouver, the Fraser Valley, Victoria, Squamish and Alert Bay, within the unceded territories of the Coast Salish and Kwakwaka’wakw people. With $28.2 billion in assets plus assets under administration, Vancity is Canada’s largest community credit union. Vancity uses its assets to help improve the financial well-being of its members while at the same time helping to develop healthy communities that are socially, economically and environmentally sustainable.
Tweet us @vancity and connect with us on facebook.com/vancity.
The Environics Institute for Survey Research was established by Michael Adams in 2006 to promote relevant and original public opinion and social research on important issues of public policy and social change. It is through such research that organizations and individuals can better understand Canada today, how it has been changing, and where it may be heading.
Tweet us at @Environics_Inst and visit us online at www.environicsinstitute.org.
For more information:
Media Relations | Vancity
New national poll shows Canadians are most concerned about the economy, want a strong natural gas and oil sector to drive recovery – Canada NewsWire
CALGARY, AB, Sept. 22, 2020 /CNW/ – The state of our country’s economy is the biggest issue of the day for Canadians, according to a new poll from IPSOS. The poll has 44 per cent of Canadians choosing the economy as the biggest priority for government, even putting it ahead of healthcare (chosen as the top issue by 36 per cent of those surveyed). All other issues fall far down the list of concerns.
When it comes to strategic direction, nearly two-thirds of Canadians (64 per cent) say that natural gas and oil need to be a part of Canada’s recovery and more than half (55 per cent) believe supporting jobs in Canadian natural gas and oil is more important than ever because we need it to kick start our economy.
The new data from IPSOS, which surveyed people across the country, demonstrates Canadians are widely supportive of growth and development for Canada’s natural gas and oil sector.
The Canadian Association of Petroleum Producers (CAPP) is encouraged to see strong support from Canadians and urges the federal government to show the same level of support for the natural gas and oil industry.
CAPP has just published its Vision for Canada’s Recovery report, which highlights the positive potential impact of the industry in creating jobs for Canadians and boosting the country’s economic recovery.
According to Statistics Canada, exports of crude oil, bitumen, natural gas and natural gas liquids generated more than $102 billion in 2019. Add in refined petroleum and the total rises to more than $112 billion — about 19 per cent of the revenue from all of Canada’s exports combined.
The industry supports half a million jobs across the country and a supply chain that reaches from coast to coast and contributes to economic growth and prosperity for thousands of businesses.
As Canadians look toward recovery, the natural gas and oil industry can play a vital role — not only to boost the national economy, but to promote further innovation and develop new technologies which can help the country reach environment and climate goals here and abroad.
Today, Canada is a clear leader in environmental, social and governance (ESG) performance. For example, Canada’s offshore oil production is among the least carbon-intensive in the world, with 30 per cent lower emissions per barrel than the global average.
The country’s leadership in innovation and environmental performance can be a competitive advantage when marketing Canada’s energy sector on the world stage, and a key component of drawing investment back to a responsibly-operated and stable energy industry.
CAPP quotes Tim McMillan, president and CEO:
- “Government policy must be considered in the context of a strong economic recovery plan. It’s time to signal to the international community that Canada is a good place to do business and market our strengths to attract investment back to our industries.”
- “Economic recovery is top of mind for Canadians, and we are encouraged to see the support across the country for a strong natural gas and oil industry. A growing industry will create much-needed jobs for Canadians and revenues for governments. Bringing investment back to the industry will also support continued development of new technologies which improve our environmental performance, reduce emissions and further our climate goals.”
- The supply chain of oil sands producers alone is associated with close to 10,000 businesses across the country.
- The offshore oil and natural gas industry makes up one-quarter of Newfoundland and Labrador’s GDP and 41 percent of exports. Approximately 600 supply and service companies in Atlantic Canada rely on work associated with offshore development.
- Ontario’s participation in the oil sands supply chain was valued at $1.89 billion in the two-year period from 2016-2017.
- The natural gas and oil industry is Canada’s largest investor in clean technology and environmental protection, spending about $3.5 billion annually.
- From 2017 to 2019, a period with struggling commodity prices, Canada’s natural gas and oil sector still contributed over $8 billion annually to government revenues across the country.
The Canadian Association of Petroleum Producers (CAPP) represents companies, large and small, that explore for, develop and produce natural gas and oil throughout Canada. CAPP’s member companies produce about 80 per cent of Canada’s natural gas and oil. CAPP’s associate members provide a wide range of services that support the upstream oil and natural gas industry. Together CAPP’s members and associate members are an important part of a national industry with revenues from oil and natural gas production of about $109 billion a year. CAPP’s mission, on behalf of the Canadian upstream oil and natural gas industry, is to advocate for and enable economic competitiveness and safe, environmentally and socially responsible performance.
SOURCE Canadian Association of Petroleum Producers
For further information: Jay Averill, Manager of Media Relations, CAPP, (P) 403-267-1151, (C) 587-225-4534, [email protected]
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