The February revenue forecast shows a turn upward for the next biennium. The forecast for expected revenue for 2011-13 is up by $95.7 million with a total expected revenue of about $30.3 billion. While this revenue increase of 0.3 percent represents a modest boost for the current biennium, this is the first positive forecast since June 2010.
The forecast for the 2013-15 biennium is predicted to be about $32.3 billion, an increase of about 6.6 percent from the current biennium. This is the first forecast adopted by the Washington State Economic and Revenue Forecast Council for the next biennium.
Read more analysis from the Office of Planning and Budgeting.