The Ontario government tabled a budget Thursday that focused on developing a resilient economy amid geopolitical uncertainty.
The province is expecting to end this fiscal year with a $12.3-billion deficit, down from the $14.6 billion projected in last year’s budget. It is projecting a deficit of $13.8 billion in 2026-27 – a big jump from the previously forecast $7.8 billion.
The province’s net debt is now projected at $485 billion in 2026-27.