ANNAPOLIS, Md. (AP) — Maryland officials have revised state revenue projections down by $365 million for the current fiscal year.
The Board of Revenue Estimates on Wednesday also reduced projections for the next fiscal year by $418 million. The state’s budget for the current fiscal year is approximately $17 billion.
Comptroller Peter Franchot, a board member, says these are significant reductions that reflect continued volatility in Maryland’s economy.