STATE BUDGET FORECAST SHOWS IMPROVEMENT

Minnesota’s state budget outlook appears to be improving.  The Minnesota Management and Budget Office released the February forecast today (Friday) and it shows a larger surplus for the years of 2026-27 at $3.7-billion.  That’s an increase of $1.3-billion from the November forecast.  However, officials say spending growth outpaces revenue growth for fiscal year 2029.  The projeced balance for 2028-29 is now $377-million, but the MMB warns a significant structural imbalance remains.