FOR IMMEDIATE RELEASE:
[La version française suit le texte anglais.]
JUST RELEASED FAO COMMENTARY REVIEWING
ONTARIO’S 2018-19 DefiCIT
TORONTO, October 17, 2019 - The Financial Accountability Office of Ontario (FAO) just released a commentary that explains why Ontario’s deficit doubled from $3.7 billion in 2017-18 to $7.4 billion in 2018-19.
The commentary outlines how policy decisions by the previous and current governments contributed to the doubling in Ontario’s 2018-19 deficit.
The commentary also shows that the unusually large $4.3 billion improvement in the 2018-19 deficit since the 2019 budget projection was largely the result of unexpectedly strong revenue growth.
Read the full FAO commentary and analysis here.