St. Paul (LEARFIELD) — State officials plan to release the February budget and economic forecast this afternoon. The November forecast showed Minnesota with a surprising 641-million-dollar budget surplus during the COVID pandemic. Minnesota Management and Budget also predicted a one-point-three-billion-dollar deficit for the 2022-23 biennium. But tax revenues were up 296-million dollars more than projected in January and three-and-a-half percent more than anticipated for fiscal year 2021. Lawmakers will use today’s numbers to craft the next two-year state budget.
