SAINT PAUL, Minn. - Minnesota Management and Budget today released the November Economic Forecast, showing a positive budget balance of $1.332 billion for the 2020-21 biennium. The state’s budget reserve is also now at its statutory target amount of $2.359 billion.
State Rep. Rob Ecklund (DFL – International Falls) released the following statement:
“There are several strong indicators within the forecast, including a positive balance for the current biennium, continued low unemployment, and a healthy budget reserve. The forecast today is just a snapshot though, and our economy could eventually slow down, so we need to remain careful going forward. We need to keep our focus on what will help families prosper and this includes investments in great schools, affordable health care for everybody, and good-paying job opportunities in every corner of the state with the help of tools like expanded high-speed broadband.
“Minnesota also has a strong credit rating with low interest rates available to us. We should use this opportunity to come together and pass a strong bonding bill next session, with investments in priorities like our colleges and universities, clean water infrastructure, and new jobs and economic vitality within our communities.”