The office of Minnesota Management and Budget (MMB) on Thursday released its annual November economic forecast, which provides a picture of the state’s budget picture. The report projects a $2.5 billion surplus for the remainder of the 2026-2027 budget cycle, and a $3 billion deficit for the 2028-2029 budget cycle.

Senator Steve Drazkowski (R-Mazeppa) issued the following statement:

“We are facing another multi-billion-dollar deficit around the corner because Democrats were completely reckless when they had full control of state government and they refuse to stop fraud or hold those inside or outside government accountable. It’s time for Minnesota to end many of these unnecessary welfare programs, which have been designed by Democrats to redistribute wealth by taking money from earnest people who work hard every day and giving it to greedy people who do not. This state will only be saved when its people recognize those corrupt elected officials and summarily throw them out of office.” 

 FORECAST DOCUMENTS

Full forecast: Available here

 MMB Presentation deck: Available here