Minnesota News

Projected state surplus now $9.2 billion

Mn Legislature
The State Capitol building. Photo by Larissa Donovan

The latest numbers are in for the state’s budget and economic forecast.

According to an update, the state has a forecasted improvement of more than 1.5 billion dollars, leading to a $9.2 billion budget surplus for the next biennium.

Minnesota Management and Budget credits this economic forecast to higher incomes, more consumer spending and higher corporate profits.

Uncertainty due to inflation and geopolitical conflict pose the greatest risks to the budget and economic outlook.