• Ontario's deficit for 2009-10 is projected to be $24.7 billion.
• The government has updated the province's economic outlook and is forecasting a decline of 3.5 per cent in gross domestic product for 2009.  Although there are signs of stabilization in the economy, growth in government revenues and employment will lag behind growth in the economy.
• In order to return the province to a sustainable and firmer fiscal footing, while protecting key services, the Ontario Treasury Board will conduct a rigorous spending review.

   

For more information you can click on the following link:

http://www.news.ontario.ca/mof/en/2009/10/fall-economic-statement-updates-ontarios-finances.html