Minnesota Budget Forecast: New Projected Balance Shows $1.3B Increase

What to make the of Minnesota's economic outlook in the age of Trump

Usually, the Minnesota Budget and Economic Outlook is a chart-laden oracle in PDF form, shaping the stories politicians tell about the state’s economy and determining how much the Legislature can spend on favored policies.  But the outlook that Minnesota Management and Budget released Friday could be limited in how much it guides lawmakers who are juggling competing policy priorities and an upcoming election.  On the surface, the forecast is pos…

Minnesota budget outlook improves: Near-term surplus grows to $3.7 billion, future deficit gone

ST. PAUL — Minnesota’s budget forecast shows an improved $3.7 billion surplus in the near term and a deficit for the next biennium squashed. The Friday, Feb. 27, numbers show what Minnesota Management and Budget (MMB) officials called a "slightly improved forecast" from the November forecast. November's forecast showed a $2.5 billion surplus for 2026-27 and a $2.96 billion deficit in 2028-29, now projected to be a $377 million general surplus. T…

Minnesota budget projection shows improving state finances, stronger national economy

Share This StoryA new state budget forecast shows Minnesota’s finances are improving, and the national economy is projected to grow more than previously estimated. However, some problems are still on the horizon for Minnesota’s state budget. Last December, Minnesota Management (MMB) announced that Minnesota had a projected $2.46 billion surplus for the current two-year budget cycle that runs through June of 2027. Despite this, MMB’s December for…

MN revenue forecast: $3.7B surplus for 2026-2027, a $377M surplus in 2028-2029

Longer-term projections still predict major budget shortfalls in the years ahead.

Minnesota’s looming budget deficit now is a surplus but uncertainty remains

The state will end the current two-year budget cycle with a $3.7 billion surplus. It’s projected to have a $377 million surplus in the cycle after that.

Minnesota budget projections improve by $1.3 billion

SAINT PAUL, Minn. – Minnesota’s Office of Management and Budget said the state’s budget outlook is $1.3 billion higher than November estimates. The fiscal year 2026-2027 projected balance is now at a surplus of $3.7 billion. “A slightly improved economic outlook drives a higher revenue forecast largely driven by more volatile sources of revenue,” Minnesota OMB officials said. However, Minnesota OMB reports spending growth outpaces revenue growth…