Seal of the  State of Connecticut, Office of the State Comptroller

STATE OF CONNECTICUT

NANCY WYMAN
COMPTROLLER

OFFICE OF THE STATE COMPTROLLER
55 ELM STREET
HARTFORD, CONNECTICUT 06106-1775

MARK OJAKIAN
DEPUTY COMPTROLLER
WYMAN SAYS DEFICIT SHRINKING, ECONOMY MAY BE IMPROVING
Contact: Steve Jensen
860-702-3308

State Comptroller Nancy Wyman today projected that the state will end the 2002 fiscal year with a budget deficit of $95.7 million, and said there are signs that the state's economy may be improving.

Wyman's deficit estimate is $187.8 million less than her October projection, due to the General Assembly's passage of a bill in a special legislative session last month that reduced planned spending by about $200.6 million.

"The quick action taken to address the deficit, combined with some improvement in overall revenues, has brought the deficit back to a manageable level," Wyman said. "I am also encouraged by positive trends in retail sales, jobs and the housing market. These indicators support my cautious optimism that the state could see a modest growth in revenues by next spring."

In her monthly report to the Governor, Wyman noted that:

The State Comptroller appreciates input on this and other issues from residents of the state. Please feel free to contact her office by phone - (860) 702-3300; mail - OSC, 55 Elm Street, Hartford, CT 06106; or, via E-mail - osc.opinions@po.state.ct.us

Learn more about the Connecticut Comptroller's Office by calling up our Internet Home Page, at the link below.

For Immediate Release
December 3, 2001

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