November 26, 2015 / 6:54 PM / 2 years ago

Ontario lowers deficit forecasts for 2015-2016 fiscal year

OTTAWA, Nov 26 (Reuters) - Ontario’s government said on Thursday in expects to see a smaller budget deficit in the current fiscal year than previously anticipated, helped by the initial public offering of utility Hydro One Ltd.

Ontario, Canada’s most populous province, expects to run a deficit of C$7.52 billion ($5.66 billion) in the 2015-16 fiscal year, the government said in its budget update. That is down from the C$8.5 billion deficit it had estimated in its April budget.

$1 = 1.3284 Canadian dollars Reporting by Leah Schnurr; Editing by Sandra Maler

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