Minnesota Budget Outlook and Trends

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 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.

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.

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Budget Outlook and Trends Blog Posts

November 27, 2023

Recent information points to stronger state budget picture

Recent budget reports suggest that Minnesota will likely project a larger budget surplus when the next legislative session kicks off. This in part reflects the fact that the national economy has performed more strongly this year than was previously anticipated. In October, Minnesota Management and Budget determined that the prior FY 2022-23 final general fund balance was $820 million higher than end-of-session estimates.

July 18, 2023

Minnesota Budget Outlook and Trends

Research

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

Economic recovery creates opportunities: inside the February 2014 Forecast

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

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

Budget Outlook and Trends Blog Posts

Recent information points to stronger state budget picture

July economic update shows state revenues on track, mixed national economic picture

Latest economic report shows state revenues on track with projected large surpluses

State's February budget forecast confirms opportunity to make transformational investments

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