Article by, Ian Grande
Bismarck – The latest set of North Dakota Treasury projections came in lower $46.3 million less than previously expected for the current biennium. The projections that were released today were part of a widely anticipated report from Moody’s, the New York based ratings agency.
Moody’s is also forecasting a $103.2 million dollar drop in revenue collections for the 2017-2019 Biennium, compared to what was previously expected.
Revenue projections have been dropping consistantly over the past two years, largely due to a significant downturn in both the agricultural economy and the oil market.
This revised set of projections will put even more pressure on the governor’s office and legislature to come up with a solution to balancing the budget.
Stay tuned for more information on the latest budget projections.
*Ian Grande is the Editor of the Stanley Gazette. If you have any comments or concerns please email StanleyGazette@gmail.com
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