The Good and Bad News for NM State Budget

Things aren’t looking quite as bad. That’s what UNM Economist Jeff Mitchell has to say about the latest state revenue forecasts for next fiscal year. But he tells News Radio KKOB there will still be a need for a lot of new money coming in. He says the state is looking at being down $250 million for next fiscal year, which he says is not as bad as what they’ve seen.

Mitchell says the only reason things aren’t worse is that oil and gas prices have rebounded a bit. He also has concerns that the state’s reserves are far too low.

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