Ontario is projecting a $13.1 billion deficit for this fiscal year, down from the province’s last forecast projection.
Finance Minister Peter Bethlenfalvy says the government has invested most of the $2.7 billion in COVID-19 relief funding announced in the fall economic statement with $500 million remaining for the rest of the fiscal year.
The relief money has mostly gone to hospitals, property tax and energy rebates for businesses as well as small business grants, long-term care homes and training for personal support workers.
The update comes just before the province’s anticipated budget which is set to be tabled on March 31st.