Ontario Economy 2025: Growth, Fiscal Stability and the Goal of Balance by 2028
Have you ever stopped to think about how our province’s finances are being managed? The Government of Ontario has released the 2025–26 First Quarter Finances, and the results indicate solid management even in the face of a challenging global economic environment.
Real gross domestic product grew by 0.6 per cent in the first three months of 2025, driven by higher exports and household spending. The projected deficit for this fiscal year is 14.6 billion dollars, while revenues are expected to reach 219.9 billion dollars, figures that remain consistent with the provincial budget.
According to Minister of Finance Peter Bethlenfalvy, the goal is to protect jobs, businesses and workers while building a more resilient and self-reliant economy. Ontario’s net debt-to-GDP ratio remains close to the lowest level since 2013–14, and interest costs continue to rank among the lowest in decades.
The government maintains its forecast to achieve a balanced budget by 2027–28. Until then, the challenge will be to protect the economy, maintain essential services and ensure quality of life for families. Do you believe Ontario will be able to achieve this goal?
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