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Ontario's economic growth outpaces G7 countries

Staff Writer |
For the eighth year in a row, Ontario is projecting to beat its deficit target, supported by the province's growing economy.

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Strong economic growth and a responsible approach to fiscal management are enabling the government to continue making strategic investments that help Ontarians.

Today the Ontario government released the 2016-17 Third Quarter Finances. The report projects a $1.9-billion deficit in 2016-17, a $2.4-billion improvement compared to the 2016 Budget.

Despite a challenging global climate, the province's economy continues to perform well and private-sector economists expect Ontario to be one of Canada's fastest-growing provinces over the next two years.

The economy continues to create jobs, and the unemployment rate in Ontario has been lower than the national average for 22 consecutive months.


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