The forecast projects a $7.7 billion general fund surplus for the current FY 2022-23 budget cycle, and a $6.0 billion structural balance for the upcoming FY 2024-25 budget cycle. These projections represent a historic opportunity to make transformational changes to build a more equitable recovery.
Tag: economic outlook
Raiding the state’s budget reserve today could hurt everyday Minnesotans tomorrow
It’s imperative to build a strong budget reserve when the state’s economic outlook is good, and Minnesota has made laudable progress. But that budget reserve will only work if we keep it strong and only use it when it’s needed.