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COVID-19 pandemic has intensified economic disparities in Canada: report

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A new report has found COVID-19 has amplified the economic disparities that existed pre-pandemic.
According to the affordability index by BDO Canada Ltd., nearly 40 per cent of Canadians say their personal finances deteriorated during the first wave of COVID-19.
Two-thirds of Canadians with debt say they cannot keep up with their debt payments or have had to make sacrifices in their budgeting to do so.
While this typically involves foregoing non-essential purchases, just under one-quarter say they have to forego essentials like food or clothing or they cannot meet their payments.
The survey also found nearly 20 per cent of Canadians are better off, with their finances having improved during the pandemic.

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