SAINT PAUL, Minn. – Minnesota is releasing a new budget forecast that shows a bleaker financial outlook.
New numbers from the state’s Department of Management and Budget show the state’s budget surplus is now smaller at $456 million.
That’s down by $160 million from earlier figures in November.
The state also says the projected general fund shortfall is getting larger.
By 2029, the state budget deficit will rise to nearly $6 billion.
That’s more than $850 million more than previous estimates.
The department notes higher inflation and shifting federal policies as factors influencing the revised numbers.
