OLYMPIA, Wash. — Washington state’s economy is projected to have nearly $1 billion more than previously assumed through mid-2023.
Updated numbers by the Economic and Revenue Forecast Council show that projected revenue collections for the 2021-2023 budget cycle are $927 million above what had been originally forecasted in June.
“Trends in collections are still improving though there are some uncertainties on the horizon,” said Steve Lerch, executive director of the Economic and Revenue Forecast Council in a statement, Friday.
The projections for the next two-year budget cycle that ends in mid-2025 also increased by more than $931 million.
The next state revenue forecast will be in November.