November 14, 2016 / 6:17 PM / a year ago

Ontario sees C$4.3 bln 2016-17 deficit, plans to help new home buyers

TORONTO, Nov 14 (Reuters) - Canada’s most populous province expects to run a deficit of C$4.3 billion ($3.17 billion)in the 2016-17 fiscal year, the Liberal government said in a budget update on Monday, in line with the deficit it had estimated in February.

Ontario, which accounts for about 40 percent of Canada’s economy, maintained its promise to have a balanced budget in 2017-18 and expects to remain in balance the year after. It has run a deficit every year since 2008-09, when the financial crisis hurt the global economy. (Reporting by Fergal Smith, editing by G Crosse)

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