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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

July 22, 2021

State’s July economic update shows strong revenue numbers

We’re getting “back to normal”, but that isn’t enough The state of Minnesota’s revenue and economic picture continues to...

May 03, 2021

What does improved April economic update mean for budget negotiations?

The state’s economic picture has improved compared to the February forecast , according to the recent April Revenue and...

March 02, 2021

Budget forecast shows welcome news but Minnesota needs resources for an equitable future

The state’s new budget projections give the latest on the continuing impact of the pandemic, and a preliminary sense of ...

January 21, 2021

January economic update shows some improvement

The state’s economic picture has improved compared to the November forecast, but COVID-19 and the economic fallout are still hurting many Minnesotans’ health and economic stability, according to the state of Minnesota’s recent January Revenue and Economic Update.