(BISMARCK, ND) North Dakota Governor Kelly Armstrong says a revised forecast projects the 2025-27 biennium will bring in higher ggeneral fund revenues.
The forecast says the biennium will bring in $5.07 billion to the general fund – a reduction of $105 million, or two percent, from the January 2025 executive forecast used to prepare Armstrong’s executive budget recommendation to the Legislature. The revised forecast continues to reflect a growing, diversified economy in North Dakota. General fund revenues in the 2025-27 biennium are expected to exceed the current 2023-25 biennium by $71.9 million, or just over one percent.
Armstrong says the news ‘supports significant investments in property tax relief and other priorities despite a downward adjustment in oil tax revenue.’
House Majority Leader Mike Lefor of Dickinson says there are challenges budgeting two years out.
“There’s a lot of uncertainty with tariffs and all kinds of things like that creates some uncertainty. As we have done in the past, we’ve tended to forecast conservatively and budget conservatively,” Lefor explained.
