OLYMPIA, Wash. (AP) — Officials say a trend of slow economic growth is expected to continue in Washington state.
An updated forecast released Tuesday shows lawmakers may have $395 million more available to them through the middle of 2017: $157 million more than predicted back in February for the remainder of the two-year budget that ends mid-2015 and $238 million more for the next budget that ends mid-2017. It’s a small amount for a state in which the two-year budget cycle is expected to collect some $33 billion for the general fund through 2015 and about $36 billion through 2017.
Steve Lerch, executive director of the Economic and Revenue Forecast Council, said there are a variety of risks in the projections, including the potential for a slowing Chinese economy, recent turmoil in the Middle East and possible disruptions in U.S. housing recovery.
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