Canada's Ontario province to present budget Feb. 25

Tue Feb 16, 2016 3:54pm EST
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TORONTO Feb 16 (Reuters) - Ontario Finance Minister Charles Sousa said on Tuesday he will unveil the provincial budget on Feb. 25.

Canada's most populous province said in November it expects a smaller budget deficit in the current fiscal year than previously thought, helped by the initial public offering of utility Hydro One Ltd.

Ontario, which accounts for about 40 percent of Canada's economy, said late last year it expects to run a deficit of C$7.52 billion ($5.66 billion) in the 2015-16 fiscal year, and has promised a balanced budget in 2017-18. (Reporting by Andrea Hopkins; Editing by Bill Rigby)