A Quarterly Update From The Minnesota Office Of Management And Budget.pdf

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Preview of A quarterly update from the Minnesota Office of Management and Budget
🔗 Source: mn.gov
📊 Size: 326 KB
👤 Author: MS
⬇️ Downloads: 33

Summary

Minnesota's net general fund receipts for the first quarter of FY 2022 are $5.974 billion, $657 million (12.4%) above the February 2021 forecast. Net individual income tax receipts were $155 million (5.1%) higher, net sales tax receipts were $132 million (9.7%) above forecast, and net corporate tax receipts were $361 million (90.5%) higher. The U.S. economic outlook for 2021 has been revised down, with expected real GDP growth of 5.4% this year and 4.3% next year. The unemployment rate is 4.8%, down from 14.8% in April 2020, but still 1.3 percentage points higher than the pre-pandemic level.

Description

Minnesota's net general fund receipts for the first quarter of FY 2022 are $5.974 billion, $657 million (12.4%) above the February 2021 forecast.

Technical Information

  • File Format: PDF
  • File Size: 326 KB
  • Pages: 4
  • Language: EN
  • Author: MS
  • Total Downloads: 33
  • Last Updated: 2 months ago

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