Newspaper article MinnPost.com

Minnesota Officials Forecast $188 Million Budget Deficit

Newspaper article MinnPost.com

Minnesota Officials Forecast $188 Million Budget Deficit

Article excerpt

Minnesota will have a $188 million budget deficit on the table as lawmakers head back to St. Paul for the 2018 session.

State budget officials and economists released the November economic forecast Tuesday morning, showing “significant risk” in the budget for the final year of the 2018 and 2019 biennium. Budget officials are predicting an even larger shortfall in 2020 and 2021, with a $586 million deficit projected for that budget cycle.

“Deficits are due to a reduced U.S. economic growth forecast and impacts of enacted legislation during the 2017 session,” read a brief statement from Minnesota Management and Budget, the agency that releases economic forecasts. “Unknowns in federal policy and the current economic expansion, one of the longest in U.S. history, create significant risk for this forecast.”

Legislators don’t convene until Feb. …

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