Minnesota Releases Second-Half 2020 Budget, Economic Forecast

Minnesota Management and Budget released its budget and economic forecast for the end of 2020, reporting an improved outlook since the May 2020 projection despite COVID-19 disruptions; a surplus of $641 million is now projected for fiscal 2021, but a $1.273 billion budgetary shortfall remains for fiscal 2023.

Gov. Tim Walz (DFL) announced the forecast in a press release.