ST. PAUL, Minn. (KMSP) - Minnesota's projected budget surplus is now $900 million, down from the $1.2 billion estimate in December. State budget officials are predicting slower, but stable growth and expect Minnesota to weather the global economic slowdown better than most.
The state budget office attributed the lower projection to 3 negative influences:
A glut of business inventories.
Depressed oil-related investment.
The drag on global trade from the stronger dollar.
The $900 million projected surplus is the final figure that state lawmakers will carry into the session in early March.