Latest MN Budget Projection Shows $188-million Deficit 05 Dec 17

(Learfield News Service/St. Paul, MN)  Minnesota is back in budget deficit territory, according to the latest economic forecast just released. 

The state budget is projected to be in the red to the tune of 188 million dollars for the current two-year cycle, plus a forecast 586-million-dollar deficit for 2020 and 2021.

This negative turn follows a string of budget surpluses as the state and the nation recovered from the Great Recession.

Governor Mark Dayton says this forecast is “speculative at best” because of uncertainty in Washington D-C about the tax bill and health care.

The governor says he’s not going to rely on this current forecast for any final decisions and awaits the next update in late February or early March.

By that time, the legislature will be back in session.