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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

March 2014

Economic recovery creates opportunities: inside the February 2014 Forecast

Minnesota's $1.2 billion state budget positive balance shows that Minnesota's economy is making solid gains. Policymakers should act cautiously and continue to work toward a fairer tax system, strengthen budget reserves, and invest in a future of shared prosperity.

December 2013

Minnesota's future brightens, but uncertainty remains: A look at the November 2013 Forecast

A $1.1 billion positive balance means Minnesota will finish reversing past budget gimmicks. It also means policymakers can build upon the progress made in the 2013 Legislative Session and continue to invest in a prosperous future for Minnesota.

March 2013

Minnesota economy improving, but deficits continue: A look at the February 2013 Economic Forecast

Minnesota continues to face budget deficits, even though the economy is improving. The February 2013 Economic Forecast shows an improving budget outlook that reflects higher revenues and lower spending, but deficits continue for the next few years.

January 2013

Minnesota should get on a sustainable track: A look at the November 2012 Economic Forecast

Even though the economy is improving, Minnesota faces a $1.1 billion deficit in FY 2014-15 ($2.0 billion when inflation is included). Policymakers have an opportunity in the 2013 Legislative Session to end the cycle of budget deficits and quick fixes and get the state on a sustainable path.

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.