Arizona advisory panel to meet on state of economy
Published: September 29, 2010 at 7:17 am
Just months into the current fiscal year, Arizona’s budget picture is again grim as lawmakers prepare to hear new economic forecasts.
Lawmakers assemble at the Capitol on Wednesday for a meeting of government and private economists who advise revenue forecasters preparing for the Legislature’s budget work during the next legislative session.
Budget analysts have already said the current $8.5 billion state budget could face a midyear shortfall of up to $700 million if voters reject two ballot propositions that would sweep money from special-purpose funds into the general fund.
And there’s a projected $1 billion shortfall anticipated for the next fiscal year and bigger ones after that.
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