FRANKFORT, Ky. (AP) - Economists are reducing estimates for
Kentucky's state revenue trends for this fiscal year as uncertainty
remains over the domestic economy and the European debt crisis.
The Consensus Forecasting Group met Friday with state budget
officials and estimated that revenue in the state's $9 billion
General Fund will grow by 2.8 percent, which is less than the 3.5
percent growth rate predicted in August.
The group earlier estimated that the state would end fiscal 2012
with a $192 million surplus, but the Courier-Journal reported that
the gloomier forecast means the General Fund would have only $137.7
million in unbudgeted revenue (http://bit.ly/n4pP7M).
The economists plan to update the estimate again in December
with a final forecast in January.
Information from: The Courier-Journal,
(Copyright 2011 by The Associated Press. All Rights Reserved.)