Cannabis has contributed $43.5 billion to Canada's GDP since legalization

A new report says cannabis has contributed $43.5 billion to Canada's gross domestic product and $13.3 billion to Ontario's since recreational cannabis was legalized in October 2018.

The report released Tuesday by Deloitte Canada and provincial pot distributor, the Ontario Cannabis Store, said for every dollar in revenue or capital expenditures, the industry adds about $1.09 to Canada's GDP and $1.02 to Ontario's from legal purchases.

The report offers a window into how the Canadian cannabis industry has impacted the country's finances over the last few years and ultimately, concludes that the sector is "already an important source of economic growth."

"In the span of three years, the Canadian cannabis sector has found its footing and emerged as a thriving new source of economic growth, creating and supporting tens of thousands of jobs in communities countrywide," the report said.

To read the complete article, go to www.ctvnews.ca


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