Minnesota’s economic forecast shows $641 million surplus for current budget

3December 2020

Minnesota's economic forecast shows $641 million surplus for current budget

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Minnesotans are spending more than expected and state government is spending less, leading to a financial about-face Tuesday as economists predicted that a state budget deficit had flipped to a $641 million surplus. State leaders went from figuring out how to patch a hole in the current budget to anticipating some extra dollars, which could be used for priorities like COVID-19 relief. Still, budget officials warned the ongoing pandemic and other factors make the state’s financial picture more uncertain than usual. Tuesday’s forecast also looks ahead to the next two-year budget cycle, which starts July 1. Planned spending appears likely…. See article below.

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Source: https://www.startribune.com/state-economic-forecast-shows-641m-budget-surplus-for-20-21/573247871/

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