OLYMPIA, WA – The Washington State Economic and Revenue Forecast Council’s most recent forecast for Near General Fund revenue collections in the 2023-25 biennium increased by $663 million to around $66.7 billion — a 1% increase from the June 2023 projection. The Council says the forecasts are critical because they signify the state’s fiscal health, impacting the allocation and deployment of resources across various state services and initiatives.
Dr. Steve Lerch, executive director of the Economic and Revenue Forecast Council, discussed the forecast during a meeting today.
This forecast also estimates the Near General Fund revenue for the following biennium (2025–27) at around $70.9 billion, an increase of $437 million, or 0.6%, from the June forecast.
The release of the forecast concurs with a public meeting. For information on the meeting scheduling and virtual access information, please refer to the ERFC website.
The next scheduled revenue forecast is on November 26. Gov. Jay Inslee will submit his supplemental budget proposal to the Legislature in the following month.
