OLYMPIA, Wash. (AP) — Washington’s revenue forecast is down another $780 million, further deepening the projected budget deficit for the next two-year budget.
Chief Economist Arun Raha says that the earthquake and tsunami disaster in Japan and the conflict in the Middle East are expected to stymie the state’s economic recovery.
Raha says that revenues are an additional $80 million for this fiscal year, which ends in June. Revenue is expected to be down for the 2011-2013 cycle by $700 million.
