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Budget and Economic Forecast February 2020


Latest: February 2020 Budget and Economic Forecast

February 27, 2020

Summary

Minnesota’s budget and economic outlook remain stable. A small increase to the general fund revenue forecast along with a similar-sized reduction in spending estimates result in a projected surplus of $1.513 billion for the FY 2020-21 biennium, $181 million larger than the November estimate.  As in November, the economic outlook is stable but a slowdown remains in the forecast. The small budgetary improvement continues into the next biennium and the structural balance is improved, but budget challenges remain.

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