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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

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.

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.

Budget Outlook and Trends Blog Posts

July 12, 2019

Minnesota's July Economic Update shows higher revenues, economic growth for now

The recently released July Revenue and Economic Update gave us somewhat good news about the state’s economic and budget landscape.

July 02, 2019

Raiding the state's budget reserve today could hurt everyday Minnesotans tomorrow

It’s imperative to build a strong budget reserve when the state’s economic outlook is good, and Minnesota has made laudable progress. But that budget reserve will only work if we keep it strong and only use it when it's needed.

April 17, 2019

Minnesota’s April Economic Update shows small improvements

The recently released April Revenue and Economic Update gave us good news about the state’s economic and budget la...

February 28, 2019

Minnesota’s February budget forecast reinforces the need for resources to fund the investments Minnesotans count on

Policymakers’ primary task in the upcoming legislative session will be to set a budget for the FY 2020-21 biennium, and ...