Wash. economists to issue new revenue forecast

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OLYMPIA, Wash. (AP) — The state’s chief economist is issuing a new revenue forecast as lawmakers prepare to go into a special legislative session to address a projected $1.3 billion deficit.

During the last forecast in September, Arun Raha said the state’s economy was struggling against headwinds caused by debt battles in the United States and Europe. In a recent report, the Economic and Revenue Forecast Council said that “although the state economy appears to be turning around, we face significant risks from the global and national economies.”

Raha is presenting his latest numbers Thursday morning.

State lawmakers return to the Capitol on Nov. 28 to consider approximately $2 billion in cuts to state programs for the budget through 2013. Gov. Chris Gregoire is expected to release her budget proposal on Monday suggesting cuts, as well as a revenue package.