Economists consider Kentucky's financial outlook

FRANKFORT, Ky. (AP) - A panel of state economists is considering how Kentucky's economy might perform over the next three years.

The panel, called the Consensus Forecasting Group, is also deliberating the magnitude of Kentucky's state budget shortfall in the coming fiscal year that begins July 1. The panel is expected to meet again at the end of the month to make its official projection.

Gov. Steve Beshear's administration has predicted the state may be facing a budget shortfall next year of up to $1 billion. It is up to the panel to make an official prediction to determine the amount of money that needs to be slashed from next year's budget to make it balanced.

Beshear may call the General Assembly into a special session later this year to deal with the budget or other matters.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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