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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

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.