Ontario Finance Minister Peter Bethenfalvy on February 14, 2022 (cpac)

$13.1 Billion Projected Deficit In 21-22: Bethenfalvy

Jason Wellwood February 14, 2022 2:13 pm Last Updated on June 30, 2025 2:15 pm

The province is adjusting it’s projected budget deficit for 2021-2022.

Finance Minister Peter Bethlenfalvy said Monday that it’s now $13.1 billion, which is an $8.4 billion difference from the deficit forecasted in the Economic Statement released in November 2021.

Bethenfalvy noted that most of the $2.7 billion in COVID-19 relief funding outlined in the November update has been invested with $500 million remaining for the rest of 21-22.

The full budget is expected to be tabled by March 31st ahead of the next provincial election in June.

Jason Wellwood

Originally from southern Ontario, Jason found his way here and fell in love with the community and music scene of Thunder Bay over twenty years ago. In between various stints on radio, television and writing, Jason is a dad, a partner and (some would consider) a zoo keeper (seriously, he has a LOT of pets).

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