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Ontario Says It Remains on Track for Budget Balance in 2017-18

Nov. 7 (Bloomberg) -- 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.

To contact the reporter on this story: Greg Quinn in Ottawa at gquinn1@bloomberg.net

To contact the editor responsible for this story: Paul Badertscher at pbadertscher@bloomberg.net

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