State budget forecast coming out Friday

State budget forecast coming out Friday

Source: Minnesota Management & Budget

Minnesota Management and Budget (MMB) is expected to release the state’s February Budget and Economic Forecast around 11:15 a.m. on Friday, February 26.

Twice each year, MMB prepares the Budget and Economic Forecast as required by Minnesota law.

The November forecast is used to set the starting point for the budget, and is the basis for the governor’s recommendations.

The February forecast incorporates additional data and is used by the Legislature and the governor to set the enacted budget or to ensure that enacted budgets remain on track and in balance. Forecast information is also used by bond rating agencies and other financial analysts to review the state’s financial health, and by the media who present information on the state’s financial condition to the public.

For more information, visit http://www.house.leg.state.mn.us/hrd/pubs/ss/sseconfore.pdf for the Minnesota House Research Department’s “Economic Forecasts, Budget Surpluses, and Budget Shortfalls.”

Please look for more communications from MSBA regarding the budget forecast on Friday.

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