Minnesota State Budget Forecast Shows Improvement

(Learfield News/St. Paul, MN) — Minnesota’s state budget outlook appears to be improving.

The Minnesota Management and Budget Office released the February forecast today (Friday) and it shows a larger surplus for the years of 2026-27 at $3.7 billion.

That’s an increase of $1.3 billion from the November forecast. However, officials say spending growth outpaces revenue growth for fiscal year 2029.

The projected balance for 2028-29 is now $377 million, but the MMB warns a significant structural imbalance remains.