Forecasts and Updates Library

for November 2023 | Complete Forecast | December 6, 2022

Minnesota’s budget and economic outlook remains stable in the current biennium, but a significant structural imbalance constrained the budget outlook in FY 2026-27. The current FY 2024-25 surplus is projected to be $2.4 billion, up $808 million from the end-of-session estimate. The remaining balance falls to $82 million in FY 2027.