Prob not. Let me go find the numbers then I'll attempt to share a calculation
Source for the numbers:
https://www.cicnews.com/2021/11/canada-has-a-backlog-of-nearly-1-8-million-immigration-applications-1119651.html#gs.gokbph
Source for IRCC's targets
https://www.canada.ca/en/immigration-refugees-citizenship/news/notices/supplementary-immigration-levels-2021-2023.html
We need to look at "economic class". As of Nov 18:
CEC: 48,225 apps
FSW: 51,147 apps
IRCC's "federal high skilled" target (i.e. FSW+CEC) for 2021 is 108,500; and 110,500 for 2022.
IRCC is going berserk on those 48,225 CEC apps right now to meet 2021 targets. They have 4-5 weeks left before the year is done. Let's be conservative and assume IRCC clears up another 5225 CEC apps this year. Let's also assume only 147 outland apps are processed until 2022. So as of Jan 1 2022, we're looking at below backlog:
CEC: 43,000 apps
FSW: 51,000 apps
Assume 20% rejection rate and 5% complex apps (complex apps won't help 2022's targets) for FSW and 10% for CEC (no complex CEC apps):
CEC: 38,700
FSW: 38,300
Total: 77,000
So IRCC is short of 2022 targets by 33,000 PRs. To get 33,000 PRs, they probably need to invite 25% more than that so we're looking at at least 41,000 ITAs in 2022. I say at least because IRCC doesn't stop draws; it continues to help the next year's (2023) targets.