Ontario to Shrink Long-Term Borrowing Even as Deficit Soars.

Ontario plans to borrow C$38.2 billion in long-term debt for the upcoming fiscal year, which is 9% less than the current fiscal year. This decrease is due to pre-borrowing in the current year, which has given the province an additional C$9.3 billion in cash. Despite the decrease in borrowing, Ontario's budget shortfall is expected to widen to C$9.8 billion. The government aims to achieve a net debt-to-GDP ratio of 39.2% in the coming year. Ontario, along with Quebec and British Columbia, expects to run larger deficits in the coming year. [Extracted from the article]