Washington’s Economy Looks Better Than First Projected

OLYMPIA, Wash. (AP) – Washington’s economy is projected to have about $2.6 billion more that previously assumed through mid-2023.

Updated numbers by the the Economic and Revenue Forecast Council show that projected revenue collections for the 2021-2023 budget cycle are nearly $1.8 billion above what had been originally forecasted in March.

And projections for the current budget cycle that ends in a few weeks are now $838 million higher than expected.

The state’s revenue projection through mid-2023 is back to where it was in pre-pandemic levels, a complete turnaround since last June, when numbers warned of a nearly $9 billion shortfall.