OpenSky statement on the latest forecasting board projections

OpenSky statement on the latest forecasting board projections

LINCOLN — The following is a statement from OpenSky Policy Institute Executive Director Renee Fry regarding the projections made Friday by the Nebraska Economic Forecasting Advisory Board. The board reduced its forecast by $154 million over the biennium:

“Unemployment is low, our economy is strong and yet the forecasting board reduced its revenue forecast, which illustrates how unpredictable state revenues can be and why it is important that we remain cautious with fiscal decisions to avoid creating self-imposed crises. Fortunately in Nebraska our lawmakers have maintained a strong cash reserve that will help us maintain our schools, roads and other vital services when the economy dips.”