Connecticut Comptroller Nancy Wyman says unexpectedly good job and tax revenue growth have swelled the 2010 state budget surplus to nearly $167 million, The Associated Press reports.
Wyman released a new surplus estimate that’s about $62 million higher than May’s projection. The 2010 fiscal year ends June 30.
Wyman says most experts weren’t expecting any job growth this year, but the state has recently regained 8,900 of the 103,400 jobs it lost during the recession.
Income tax receipts are now about 3 percent above estimates, after having been 6 percent below expectations in January.
But Wyman is predicting budget deficits of $700 million for the 2011 fiscal year and $3.8 billion for 2012, saying a full economic recovery is still a long way away.
