Fla. Economists to Draw up New Budget Forecast

By: The Associated Press
By: The Associated Press

Florida economists are drawing up new forecasts on how well the state's finances are doing.

State economists meeting Thursday will predict how much money the state is expected to collect in taxes over the next few years.

Gov. Rick Scott and legislative leaders rely on these forecasts to determine whether or not the budget is balanced or whether more cuts are needed.

The state's largest source of money is the 6-percent sales tax although other taxes are part of the main budget account.

Collections so far this year have been slightly over initial estimates, but state economists have already warned this summer that the state economy is still recovering slowly from the recession.

Back in January economists predicted that the state's main budget account would grow 5.4 percent in 2012-13.

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