The online version of the report will be published soon.
Economic and Fiscal Outlook Spring 2017
This report provides the FAO’s latest economic forecast and assessment of the Province’s fiscal outlook.
About this document
Established by the Financial Accountability Officer Act, 2013, the Financial Accountability Office (FAO) provides independent analysis on the state of the Province’s finances, trends in the provincial economy and related matters important to the Legislative Assembly of Ontario. The FAO’s Economic and Fiscal Outlook is released each spring and fall, providing an assessment of the province’s medium-term economic performance and fiscal position.
This report was prepared by Edward Crummey, Luan Ngo, Nicolas Rhodes and Mario Angastiniotis under the direction of David West. External reviewers were provided with earlier drafts of this report for their comments. However, the input of external reviewers implies no responsibility for this final report, which rests solely with the FAO.
This report is based on information available to May 2, 2017. Background data used in this report are available upon request.
FAO’s Fiscal Projections
The FAO forecasts provincial finances based on projections of existing and announced revenue and spending policies. The forecast represents the FAO’s view of the most likely fiscal outcomes given existing policies, without anticipating any new government policy decisions. The FAO’s tax revenue projections are based on an assessment of the outlook for the provincial economy and current tax policies. Given the government’s discretion over spending, the FAO adopts the government’s announced spending plans from fiscal documents and incorporates policy announcements as appropriate. Beyond the government’s published spending projections, the FAO forecasts spending based on the outlook for underlying cost drivers including demographics and price inflation.
© Queen's Printer for Ontario, 2017
Economic and Fiscal Outlook Spring 2017, Financial Accountability Office of Ontario, 2017.