Budget and Economic Forecast
Latest: February Budget and Economic Forecast
February 27, 2026
Summary
Minnesota’s budget outlook has improved amid significant near-term economic and fiscal uncertainty. The FY 2026-27 projected balance is now $3.7 billion, $1.3 billion higher than November estimates. A slightly improved economic outlook drives a higher revenue forecast largely driven by more volatile sources of revenue. Spending growth outpaces revenue growth through projections for FY 2029. The projected general fund balance for the FY 2028-29 biennium is now $377 million, however a significant structural imbalance remains. Shifting policies at the federal level and missing or incomplete data due to recent federal government shutdowns introduce significant uncertainty to the projections.
- Current Operating Budget Webpage
- February 2026 Budget and Economic Forecast (PDF)
- February 2026 Budget and Economic Forecast Presentation (PDF)
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