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Minnesota Budget Outlook and Trends

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The state's budget is influenced by economic conditions, and in return, state budget and policy decisions should be informed by how Minnesotans are being effected by the economy. We provide analysis of the state's economic and budget forecasts as well as research on long-term budget trends.

Research

April 2016

Good news, but need for caution: Inside the February 2016 Economic Forecast

Minnesota continues to be in positive budget territory, with a $900 million positive balance for FY 2016-17, and a $1.2 billion projected positive balance for the upcoming FY 2018-19 budget cycle. These positive projected balances provide opportunities for the state to invest strategically so that more Minnesotans can access ladders into the middle class. However, lawmakers should also avoid making large and unsustainable tax cuts that could put Minnesota’s economic future at risk.

December 2015

Future economic strength depends on workforce: Inside the November 2015 Economic Forecast

Minnesota continues to be in positive budget territory, with a $1.2 billion positive balance for FY 2016-17. The state also has a projected positive balance for the upcoming FY 2018-19 budget cycle. These positive balances provide opportunity for the state to invest in its workforce to ensure a strong economic future for Minnesota.

March 2015

State strides into positive budget territory: Inside the February 2015 Economic Forecast

Minnesota's projected budget balance of $1.9 billion for FY 2016-17 is due to stronger economic growth, higher than expected revenues, and lower anticipated expenditures. Even as the state's economy has improved, many Minnesotans still struggle to make ends meet. State investments, such as affordable child care, would enable more Minnesotans to attain economic security.

December 2014

Minnesota is on the right track: Inside the November 2014 Economic Forecast

Minnesota continues to be in positive budget territory, with a $556 million positive balance for FY 2014-15. The state also has a projected positive balance for the upcoming FY 2016-17 budget cycle. These positive balances provide opportunity for the state to continue on its recent path of smart investments that promote broader economic security and make our tax system fairer.

Budget Outlook and Trends Blog Posts

October 15, 2020

Economic update shows COVID-19’s impact, need for federal action

COVID-19 is still a major threat to the country’s health, economy, and public services we all count on. The state of Min...

October 06, 2020

Budget reserve is one tool to put people first during tough times

Every year, Minnesota Management and Budget (MMB) gives Minnesotans an estimate of what the state needs in its "rainy...

October 01, 2020

State budget process kicks off amid unusual uncertainty

Fresh pencils for back to school, shorter days, bright red maples – these are a few of the classic harbingers of fall....

August 10, 2020

Minnesota expecting continued revenue shortfalls; time for strong federal action

July brought us more sobering news about the ongoing damage that COVID-19 is expected to have on the economy, and by extension the state’s budget.