Steve Heimel, APRN – Anchorage
The state’s Preliminary Revenue Forecast came out quietly over the holiday weekend. It forecasts another two years of potential budget surpluses due to high crude oil prices. Basically, the price is rising enough to compensate for a continuing decline in oil output from the state.
The actual report is due out later this week, but there is a bond sale scheduled that required the release of the information.
The forecast puts state unrestricted revenue at $5.4 billion this fiscal year, based on a price of $77.96 a barrel. Next year it projects $5.7 billion, based on an oil price of $82.67 a barrel.
That’s an estimated 87 percent of state revenues.
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