Forecasts and Updates Library

for November 2017 | Complete Forecast | December 5, 2017

A reduced U.S. economic growth forecast is mirrored in Minnesota’s budget outlook. A deficit of $188 million is now projected for the FY 2018-19 biennium. Forecast revenues for the biennium are down $559 million compared to end of session estimates. All major tax types show reduced growth with individual income taxes expected to be $461 million lower over the current biennium.