Ontario ran a smaller deficit in the 2015-16 fiscal year than previously projected, although net debt increased.
The Liberal provincial government said the deficit for the 2015-16 fiscal year ended March 31 would come in at C$5 billion.
The government published the report unaudited because of a difference of opinion on accounting methods with Auditor General Bonnie Lysyk, who
had wanted the surplus on two public-sector pension plans off the government's balance sheet.Lysyk's views were ultimately taken into account in the unaudited report, Sandals told reporters, saying the deficit would have otherwise been even lower at C$3.5 billion.
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