Embracing Fintech

% OF GDP Canadian Economy Diverse sources of growth with a strong balance sheet 20.4% Finance, Insurance, & Real Estate 14.8% Other 3.9% Transportation & Warehousing 6.6% Professional, Scientific, & Technical Services 6.9% CANADIAN GDP BY INDUSTRY (May.2022) Public Administration 12.3% Real GDP Growth Health & Education 5 7.4% 10.4% Wholesale & Retail Trade 9.4% Manufacturing 7.8% Mining and Oil & Gas Extraction Construction GDP 2021: 4.5% GDP 2022F: 3.5% GDP 2023F: 1.6% + 3 ANNUAL % CHANGE N L U.S. 2010-2019 TH Canada Eurozone 2021E-2023F U.K. Sources: Scotiabank Economics, Haver Analytics, Statistics Canada. Forecasts as of Jul, 18, 2022. General Government Net Debt Government Financial Deficits 0 2021 2022F -4 -6 (4.7) (2.2) (3.7) (3.3) (7.3) (4.3) (8.0) (4.3) (10.2) (4.8) (7.0) (5.6) (7.2) 169 172 138 139 -8 101 96 100 100 84 87 85 76 -10 49 51 % OF GDP 33 32 2021 12022F -12 CA GE Adv. U.K. U.S. FR IT CA GE U.K. Adv. Econ. U.S. FR IT JN Econ. Sources: IMF Apr 2022 Fiscal Monitor. Calendar years shown. Scotiabank Economics, IMF Apr. 2022 Fiscal Monitor, CBO. Calendar years shown. Japan (6.0) (7.6) (7.8) JN 59

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