Florida's economy grows, but not enough to avoid budget woes

Posted at 12:39 PM, Dec 12, 2016
and last updated 2016-12-12 12:39:19-05

TALLAHASSEE, Fla. (AP) -- Preliminary forecasts show Florida's economy is growing, but probably not enough to solve the state's looming budget constraints.

State economists are meeting Monday to draw up forecasts to predict how much the state will collect in taxes.

Gov. Rick Scott will use the forecasts to draw up budget recommendations for 2017.

Preliminary estimates show economists expect the state's main budget account to grow roughly four percent during the fiscal year that ends next June. And they are predicting growth slightly over 4 percent in the 2017-18 fiscal year.

These estimates are slightly better than ones drawn up earlier this year. Those estimates resulted in a budget outlook that showed the state would only have a surplus of only $7.5 million during the fiscal year that starts in July 2017.