Economists predict modest growth in state revenue

FRANKFORT, Ky. (AP) - A panel of economic advisers is predicting modest growth in state revenue over the next two years, despite uncertainties in the global economy that could spell trouble.

The Consensus Forecasting Group, made up largely of economists from the state's universities, issued an official prediction Wednesday that Gov. Steve Beshear and lawmakers will use to develop the next state budget.

The economists predicted General Fund revenue of just more than $9 billion for the remainder of this fiscal year, $9.2 billion and $9.5 billion respectively over the next two fiscal years.

The legislature uses the group's economic forecasts, which have been remarkably accurate in the past, to appropriate funds for various government programs and agencies.

(Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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