Canada's Ontario province adds C$2.6 bln to pandemic-related spending; sticks to deficit forecast

  • 2/10/2021
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TORONTO, Feb 10 (Reuters) - Ontario, Canada’s most populous province, said on Wednesday it would add to spending on hospitals and small businesses during the coronvavirus pandemic even as it maintained its forecast for a record budget deficit in the current fiscal year. The province forecast a budget deficit of C$38.5 billion ($30.3 billion) for the 2020-21 fiscal year, which ends in March, matching its forecast in last November’s budget, a fiscal update showed. Funding for pandemic-related measures was raised by C$2.6 billion for the current fiscal year. ($1 = 1.2699 Canadian dollars) (Reporting by Fergal Smith)

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