Fox 9 Minneapolis St Paul
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LIVE | Minnesota budget forecast: Surplus declines press conference
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March 6, 2025
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1:54:56Now PlayingOnce flushed with a record-setting projected surplus of $17.5 billion in 2023, the latest projected budget by Minnesota’s Department of Minnesota Management and Budget (MMB) says the state’s Fiscal Year 2026-27 projected balance is now $456 million – $160 million lower than estimates provided in December.
The projected general fund shortfall for the 2028-29 budget cycle is now $5.995 billion, $852 million less than the most recent previous estimates, MMB says.
The report also predicts that spending growth will outpace revenue in FY 2029.
Officials are holding a press conference starting at 12:30 p.m. to discuss the forecast.
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