“The 2023 fall economic statement provides our government with the flexibility needed to address the impacts of a slowing global economy, while laying a strong fiscal foundation for future generations,” Bethlenfalvy told reporters.Ontario Finance Minister Peter Bethlenfavy, pictured in December 2019.
Ontario’s deficit is projected to climb to $5.6 billion for the 2023-24 fiscal year, according to the province’s fall economic statement released Thursday, which is up from the $1.3 billion deficit the government projected in March. Peter Bethlenfalvy, the province’s finance minister, said the increased was needed to adapt to this “time of heightened economic and geopolitical uncertainty.”
“The 2023 fall economic statement provides our government with the flexibility needed to address the impacts of a slowing global economy, while laying a strong fiscal foundation for future generations,” Bethlenfalvy told reporters.