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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 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.

Budget Outlook and Trends Blog Posts

October 26, 2022

What are the state budget implications of a potential national recession?

While the state of Minnesota’s revenues have continued to come in better than expected, more serious economic challenges are expected ahead, including a recession starting this fall.

July 14, 2022

State revenues are strong, but national economy is weakening

The state of Minnesota’s revenue picture for FY 2022 remains solid, but the national economic recovery is expected to be...

April 15, 2022

Minnesota April Economic Update includes first estimates of impact of Russia invasion of Ukraine

The state of Minnesota’s revenue picture to date is still solid, but the national economic recovery is now expected to...

March 01, 2022

New budget forecast continues to show resources available to build an equitable recovery

The State of Minnesota is expected to see unprecedented levels of resources, including a strong boost in the short-term ...