Ontario kept a forecast for eliminating a budget deficit in the 2017-18 fiscal year while cutting its economic growth projection.
Canada’s largest provincial economy will grow 1.3 percent this year and 2.1 percent next year, according to a budget update presented by Finance Minister Charles Sousa in Toronto today. Those rates are both 0.2 percentage point less than the previous forecast. The budget update also kept in place a forecast for a C$11.7 billion ($11.2 billion) deficit for the fiscal year that began in April.
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