TORONTO — Ontario Minister of Finance Charles Sousa has announced he will deliver the 2017 Ontario Budget on April 27.
Sousa made the announcement recently during a speech to the Empire Club of Canada in Toronto, and also provided an update on Ontario's economic growth.
According to the Fourth Quarter Ontario Economic Accounts released April 13, the province's real GDP increased by 2.7 per cent in 2016, outpacing Canada's increase of 1.4 per cent, higher than all the G7 countries and beating private-sector forecasters' projections, noted a Ministry of Finance media statement.
Ontario has been one of the fastest-growing provinces over the past three years, and private-sector economists expect that will continue for at least another two years, indicated the statement.
Since the recessionary low in June 2009, Ontario has added nearly 700,000 jobs, the majority of which are in full-time positions and in the private sector.
Premier Kathleen Wynne has said in recent public appearances that the government is on track to balance the budget in 2017-18.
The media statement said, "With a balanced budget the government will continue to do more to help with everyday costs, including a proposed new refundable public transit tax credit for seniors."
Ontario's real gross domestic product increased 0.5 per cent in the fourth quarter, after rising 0.7 per cent in the third.
The Ontario Economic Accounts provide a quarterly assessment of the state of Ontario's economy. The fourth quarter spans October to December.