HARTFORD, Conn. – The state’s 2015 budget deficit dropped $13.2 million since November, but it hasn’t been completely eliminated, according to state Comptroller Kevin Lembo.
On Friday, Lembo said the state is poised to end the fiscal year in June with a $31.6 million deficit. In order, to completely eliminate the deficit he said the downward spending growth trend must continue because revenues aren’t likely to improve.
Lembo pointed out that his projections continue to be based on the November consensus revenue estimates, which showed revenue lagging by nearly $60 million. New estimates will be completed in mid-January, but “current revenue collections do not indicate a positive change to the consensus projections,” he wrote in his monthly letter to Gov. Dannel P. Malloy.
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