Ontario’s finance minister to provide financial update on Monday

Ontario’s finance minister is set to release an update on the province’s finances on Monday afternoon.

Peter Bethlenfalvy will release Ontario’s third-quarter finances and provide an update on the province’s economic and fiscal outlook.

A report released by Ontario’s Financial Accountability Office (FAO) last week predicted smaller deficits than the government’s previous projections, largely due to increases in revenue.

It suggests a budget deficit of $2.8 billion by 2023-24, compared to a government outlook last fall of $11.4 billion.

Monday’s update comes ahead of the province’s anticipated budges, which is set to be tabled on March 31.