February Budget and Economic Forecast, Walz Bonding Bill Proposal, more

February Budget and Economic Forecast

Twice a year, the office of Minnesota Management and Budget (MMB) releases a state budget and economic forecast that projects the overall fiscal stability of the state over the next biennium. After continued projections for a budget shortfall for the FY 2022-23 biennium, the February forecast now shows a $1.6 billion surplus, versus the $1.27 billion deficit that was previously anticipated. The increased forecast is attributed to an improved U.S. economic outlook, federal pandemic relief legislation and lower state spending.

Read more: Walz Bonding Bill Proposal, SF 1, Continued Operation of Businesses during the COVID-19 Pandemic, more