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Ontario unlikely to balance budget by 2030 despite post-COVID pandemic growth: report

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province’s economy will rebound over the next two years but the government is unlikely to reach its goal of a balanced budget by the start of the next decade.The Financial Accountability Office released a report on the province’s spring economic and budget outlook today, assessing the financial picture as the province starts to emerge from the pandemic.If COVID-19 vaccine distribution goes ahead as planned and the pandemic subsides, the report projects real gross domestic product will rise by 5.8 per cent this year and four per cent next year.

Ontario 2021 budget highlights But the FAO said economic growth could be slower if public health measures and vaccinations fail to contain a resurgence of the virus.The report also found that under.

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