Forecasts and Updates Library

for November 2020 | Complete Forecast | December 3, 2020

Minnesota’s economic and budget outlook have improved since May, when we released a budget projection just as the COVID-19 pandemic was taking hold. With this forecast, higher general fund revenues and lower expected spending result in a projected surplus of $636 million* for the FY 2020-21 biennium. *Revised to account for a required transfer from the general fund to the 21st Century Minerals fund when a surplus is projected.