After nearly getting back in the black last year, Ontario is again awash in red ink.
Finance Minister Peter Bethlenfalvy’s fall economic statement is projecting a $13.5 billion deficit this fiscal year — ballooning from a $1.1 billion shortfall in 2024-25 — but less than the $14.6 billion forecast in his May 15 budget.
The treasurer’s update contained many warning signs that point to a sputtering Ontario economy with a softening jobs market, anemic growth, weak housing starts and shrinking resale home prices.
