Recording COVID-19 measures in the national accounts

Since March, Canadian governments, federal, provincial and local, along with their associated government business enterprises, have been implementing a wide range of policy measures to address the COVID-19 pandemic. Many of these measures are economic in nature, taking the form of financial transfers and concessional loans to individuals, businesses and other groups. These actions will be reflected in the national accounts estimates for March and subsequent months, quarters and years. This paper outlines the main policy measures of an economic nature and identifies where their effects will be seen in the accounts.