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The main entrance to the Ontario Parliament in Queen’s Park will be seen in Toronto on June 18, 2021. (Canadian Press / Chris Young)
Ontario’s fiscal oversight agency predicts a deficit of $ 5.4 billion less than the latest government forecast.
The Treasury Accountability Department said it had reached a $ 8.1 billion deficit after reviewing government spending and discovering that the state was spending less than planned for all programs.
The government had predicted a $ 13.5 billion deficit in its most recent budget.
According to the Watchdog Report released today, state spending is $ 7.2 billion less than last year’s plan.
There was also a $ 1.8 billion balance left in the unallocated contingency.
FAO states that savings will lead to a reduction in the state’s budget deficit and net debt.
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