OLYMPIA – Washington’s projected Near General Fund revenue collections for the 2019–21 state budget have decreased by nearly $4.5 billion, according to estimates released today by the Washington State Economic and Revenue Forecast Council.
“Forecasting right now is clouded by uncertainty around federal interventions, global pandemic trends and how quickly the economy responds if COVID19 wanes,” said Steve Lerch, forecast council executive director. “This update is our best attempt at capturing the decline in revenue sources using the best data we can assemble.”
Gov. Jay Inslee issued a directive to executive and small cabinet agencies today to freeze all hiring, personal service contracts and equipment purchases. The directive aims to mitigate the impacts of the COVID-19 pandemic on Washington's economy and financial outlook.