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TORONTO — Ontario’s financial accountability officer says it’s possible the Liberal government can keep its promise to balance the books by 2017-18, but only if the economy grows at a stronger pace than in the past five years.

And even if they do get to balance on schedule, Stephen LeClair predicts the province will quickly be plunged back into annual budget deficits.

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tap here to see other videos from our team. Try refreshing your browser, or Ontario’s debt will balloon to $350 billion in five years, financial accountability officer warns Back to video

LeClair also warns the accumulated deficits and the Liberals’ “large infrastructure plans” will add $54 billion over the next five years to the province’s net debt, which he says will hit $350 billion.

LeClair’s forecasts are less optimistic than the government’s — he projects a $580-million shortfall in 2017-18, but concedes there’s enough flexibility in the Liberals’ plan that they could eliminate the red ink that year as promised.