SAINT PAUL, Minn. – Minnesota Management and Budget today released the November budget forecast, estimating a $641 million positive budgetary balance. The dramatic change since the May forecast is due to better data, higher general fund revenues, and lower than expected spending.
Senator Kari Dziedzic released the following statement:
“Today’s budget forecast projection is encouraging. It is much better than the May projection, but we still have work to do,” said Senator Dziedzic. “Minnesotans across the state are struggling to navigate this unprecedented time. A COVID relief package needs to be passed that supports our workers and small businesses. We also need to address how COVID has impacted children and families across the state. It will take collective action, from both sides of the aisle, in the upcoming special session and next year to balance our state budget and support our communities.”
The Minnesota Management and Budget (MMB) will release additional information on Thursday. They will release the next budget forecast in February 2021.