In mid-February, the executive and legislative branches will issue a revised revenue forecast for the state government’s 2023-24 biennium. This forecast will be used by Roy Cooper as a basis for budget recommendations, expected in mid-March. Concern about a pending economic slowdown, if not a recession, will weigh heavily on the minds of forecasters. The State’s Savings Reserve has doubled in size as percent of the state’s operating budget.
Bolstered Reserves: What North Carolina’s Rainy-Day Fund Means for 2023 Revenue Forecasting
