Bethlenfalvy Releases First Quarter Finances

Monday, 14 August 2023 11:52

By Linda Morgan

Finance Minister says bumps in exports and household spending has led to growth in the province's real GDP

Finance Minister Peter Bethlenflavy has released the province's first quarter finances.

The report suggests the province's real GDP grew by one percent, which was fueled by a bump in exports and household spending.

It also predicts the deficit for the fiscal year will be about $1.3 billion, which is unchanged from the budget that was released in March.

Bethlenfalvy says the report shows Ontario's population is increasing, and more jobs are being created.

According to the report, over 230,000 new jobs were created in the province over the last fiscal year.

As well, while the province spent more than $766,000 than planned during the quarter, most of the money comes from the province's contingency funds.

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