STATE OF CONNECTICUT
THE STATE COMPTROLLER
|WYMAN SAYS DEFICIT SHRINKING, ECONOMY MAY BE IMPROVING|
|Contact: Steve Jensen|
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:
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For Immediate Release
December 3, 2001
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