State Economists: New Mexico budget crisis could be over soon

ALBUQUERQUE, N.M. (KRQE) – New Mexico could soon be out of its budget crisis, according to state economists.

They say government income is expected to exceed spending by about $25-million in the next fiscal year.

Economists say there’s little room for error but New Mexico should have about 5 percent in reserves. That means the state will go into the next fiscal year just barely avoiding spending cuts.

Experts credit the beginnings of a recovery in the oil and natural gas sectors.

The governor and legislative finance committee will each propose budget plans in January. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Users who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

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