Ontario projects a smaller deficit for 2016-17

Tue Feb 21, 2017 10:39am EST
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TORONTO (Reuters) - Ontario projected a C$1.9 billion deficit in the 2016-17 fiscal year, a report updating the province's fiscal outlook said, versus a C$4.3 billion deficit the province's Liberal government had expected in its budget update in November.

The province's Third Quarter Finances also projected an improvement in its net debt-to-GDP ratio of 38.3 percent compared to a 39.6 percent projection in the province's 2016 budget.

(Reporting by Fergal Smith)