Ontario projects C$16.9bn FY26-27 deficit, delays balanced budget to 2029-30

Ontario projects an FY2026-27 deficit of C$16.9bn, up from the C$13.8bn budgeted, and now targets a balanced budget in 2029-30. FY2027 long-term borrowing is seen at C$51.1bn versus a budgeted C$47.2bn, with GDP growth forecasts for 2026 and 2027 cut to 0.5% and 1.5%.

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