JACKSON, MISS– Projections for the state’s economy were presented at a legislative budget hearing in the state’s Capitol on Friday.
Growth of less than two percent was estimated for the last six months of the fiscal year.
“Projections (show) the last six months we ought to grow 1.5 percent,” said House Ways and Means chairman Jeff Smith. “and hopefully the first six months of 2018, 1.75 percent.”
Smith said the numbers came from State Economist Dr. Darren Web. The growth, though less than two percent, is expected to be enough to cover the needs of the fiscal year.
While less than two percent is a slight improvement, Smith said that has been the case across the board.
“The federal economy might grow as much as 2.1 percent this year,” said Smith. “We have not had a three percent growth rate nationally in eleven years.. President Obama will be the first president to not have a three percent growth year in his presidency.”
More budget talks will take place at the state capitol this week, as members of legislative budget committees will hear from state agencies regarding tax dollars spent on contractual services.
