Ontario is forecasting a smaller than anticipated deficit for the 2024-25, partly thanks to an unexpected uptick in revenue from tuition paid by international students, according to the province's fall economic statement released on Wednesday.
But it still remains unclear how the federal government's new international student cap will impact provincial finances in the years ahead.
According to the updated financial figures, the province is now projecting a $6.6 billion deficit this fiscal year, down from the nearly $10 billion total envisioned in the spring budget.