Office of Planning & Budgeting

revenue forecast


November 21, 2023

November Revenue Forecast Revised Upward for Current Biennium

The Washington State Economic and Revenue Forecast Council (ERFC) released its November revenue forecast on Monday, November 20, 2023. Revenue projections were again revised upward for the current 2023-25 biennium as well as for the 2025-27 biennium. In September, we highlighted that experts expected revenue to increase over recent projections for the 2023-25 and 2025-27…


October 4, 2023

September Revenue Forecast Revised Upward for Current Biennium, Returning to Previously Projected Levels Despite Slowing Growth

The Washington State Economic and Revenue Forecast Council (ERFC) released its September revenue forecast on Tuesday, September 26, 2023. Revenue projections were again revised upward for the 2023-25 and 2025-27 biennia, as well as for the 2021-23 biennium that ended on June 30. In June, we highlighted that experts expected revenue to increase slightly over…


June 28, 2023

June Revenue Forecast Projections Revised Slightly Upward for Upcoming Biennium, Despite Slowing Growth

The Washington State Economic and Revenue Forecast Council (ERFC) released its June revenue forecast on Tuesday, June 27, 2023. Revenue projections have been revised slightly upward for the current biennium as well as for the 2023-25 and 2025-27 biennia. In March, we highlighted that experts expected revenue to decrease over previous projections for the 2023-25…


May 6, 2020

Economic and Revenue Forecast Council Releases April Budget Outlook

On Thursday, April 30, the Economic and Revenue Forecast Council met to review and approve the April 2020 budget outlook. The budget outlook used the February revenue forecast and contained no major changes to revenues or appropriations for the 2019-21 biennium. During their meeting, the Council acknowledged that there will likely be changes to the…


February 20, 2020

February Revenue Forecast Shows Continued Growth

The Economic and Revenue Forecast Council (ERFC) released their February revenue forecast on February 19. The projected Near General Fund-State (GF-S) revenue forecast increased by $606 million for the 2019-21 biennium and by $536 million for the 2021-23 biennium. The report projects higher than forecasted revenue compared to the November revenue forecast. Here is a quick summary…


November 22, 2019

November Revenue Forecast Shows Increased Revenue, but Slowing Growth

The Economic and Revenue Forecast Council (ERFC) released their November revenue forecast on November 20. The final tabulation of Near General Fund-State (GF-S) revenue for the 2017-19 biennium was $46.081 billion, $5 million less than estimated in September. Projected revenue collections increased by $299 million for the 2019-21 biennium and by $181 million for the 2021-23…


October 23, 2019

Background on the State Revenue Forecast

The Office of Planning & Budgeting (OPB) publishes a summary of the state’s quarterly revenue forecasts. This primer provides background on revenue forecast reports, including helpful information about how to interpret and understand their contents. Who produces the report? The Washington State Economic and Revenue Forecast Council (ERFC) produces the revenue forecast, and is comprised…


September 26, 2019

September Revenue Forecast Indicates Slowing, but Continued Growth

The Economic and Revenue Forecast Council (ERFC) released their September revenue forecast. The projected Near General Fund-State (GF-S) revenue forecast for the 2017-19 biennium increased by $27 million. Projected revenue collections for the 2019-21 biennium increased by $447 million, decreased by $63 million for the 2021-23 biennium. The report projects similar growth to the June revenue forecast….


August 14, 2019

June Revenue Forecast Growth Driven by Legislative Activity

The Economic and Revenue Forecast Council (ERFC) released their June revenue forecast. The projected Near General Fund-State (GF-S) revenue forecast for the 2017-19 biennium decreased by $47 million. Projected revenue collections for the 2019-21 biennium increased by $432 million. This change was primarily driven by legislative activity in the 2019 session. The report projects similar growth…


March 21, 2019

March Revenue Forecast Shows Consistent Growth

The Washington Economic and Revenue Forecast Council (ERFC) released their March revenue forecast on March 20. The projected Near General Fund-State (NGF-S) revenue forecast for the current 2017-19 biennium increased by $307 million, while the projected revenue collections for the upcoming 2019-21 biennium increased by $553.5 million. The report shows a similar forecast as that published…



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