Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

UPDATE 1-Canada's Ontario forecasts smaller deficit, helped by Hydro IPO

Published 2015-11-26, 02:30 p/m
UPDATE 1-Canada's Ontario forecasts smaller deficit, helped by Hydro IPO
H
-

(Adds details on forecasts)
OTTAWA, Nov 26 (Reuters) - The Ontario government said on
Thursday it expects a smaller budget deficit in the current
fiscal year than previously anticipated, helped by the initial
public offering of utility Hydro One Ltd H.TO .
Canada's most populous province expects to run a deficit of
C$7.52 billion ($5.66 billion) in the 2015-16 fiscal year, its
Liberal government said in a budget update, down from the C$8.5
billion deficit it had estimated in its April budget.
Ontario, which accounts for about 40 percent of Canada's
economy, is now forecasting a deficit of C$4.5 billion for
2016-2017, slightly smaller than what was forecast in April, and
promises to have a balanced budget in 2017-18.
Non-tax revenue for the current fiscal year, including the
net revenue from the initial public offering of Ontario power
distributor Hydro One, is projected to be about C$1.1 billion
higher than forecast in the 2015 Budget.
Ontario's net debt is expected to be C$298.3 billion at the
end of the current fiscal year, compared to April's forecast of
C$298.9 billion.
($1 = 1.3284 Canadian dollars)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.