November 29, 2022

Canadian province of Ontario cuts deficit forecast, braces

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TORONTO — Ontario on Monday projected a smaller price range deficit for the present fiscal 12 months as sturdy financial development boosted tax revenues in Canada’s most populous province, but it surely additionally forecast exercise would gradual in 2023, a fiscal replace confirmed.

The province stated it anticipated a price range deficit of $12.9 billion for the 2022-2023 fiscal 12 months, in comparison with the $19.9 billion deficit forecast in April’s price range. The fiscal 12 months ends on March 31.

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