Minnesota Department of Finance February Forecast

The State’s economic February Forecast is now available. The Department of Finance is capitolpic.gifprojecting a $935 million deficit for 2008-2009, and budget planning estimates are for a $1.086 billion deficit for 2010-2011. Contributing to the economic picture is a decline in individual and corporate income taxes. The Forecast predicts a minor recession for the first half of 2008 because the federal stimulus package will come too late to affect a decline in the real GDP. It is hopeful that this recession will be short-lived.

Related posts:

  1. Representative David Bly’s Response to the February (Budget) Forecast
  2. Examining The Forecast
  3. Fiscal Forecast
  4. Budget Forecast– Update from Speaker Kelliher and Majority Leader Sertich
  5. Legislative Session and State Revenues

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