Ontario's deficit for 2009-10 has dropped to $18.7 billion, nearly $1 billion less than anticipated.
The last update released by the Ontario government projected the deficit for 2009-10 had reached $19.3 billion.
Finance Minister Dwight Duncan pointed out the $18.7 billion deficit was 25 per cent less than the $24.3 billion pegged in the original projection made last fall.
Duncan is expected to elaborate on Ontario's economic reality on Thursday.
It will be the first update since the province's HST began on July 1. That set the province's combined federal-provincial value-added tax at 13 per cent, but was accompanied by income tax cuts and adjustment payments.
