The February budget and economic forecast predicts the 2024-25 biennium is may end with a surplus of $3.71 billion, up $1.32 billion from November projections.
Estimates increased $1.3 billion from projections released in December. The state also has about $2.9 billion in its rainy-day fund. However, officials warn of a potential $1.5 billion shortfall in the coming years.
Why Minnesota could soon face a budget shortfall startribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from startribune.com Daily Mail and Mail on Sunday newspapers.
It's been a year of economic contradictions for the country, but Minnesota's biggest one ended this week. The finances of the state government for so long appeared to defy the slow performance of the Minnesota economy. No more. The news came like a cold splash in the face to government leaders. I hope it will lead more of Minnesota's government and business leaders to squarely confront that .