New Mexico’s revenue forecast shows signs of slowing down
ALBUQUERQUE, N.M. – Financially, New Mexico is in a great place. But according to a recent report, we could see a bit of a slow-down in revenue growth.
The latest report from the state’s Consensus Revenue Estimating Group show’s New Mexico’s finances remain in good shape.
They project a 2.2% growth in fiscal year 2025 with over $3 billion in new money.
However, during the Legislative Finance Committee on Monday, experts say this is the first time in three years the rapid growth in revenue is slowing.
“We had three years of every single forecast coming up high and higher and higher. This is the first time that that’s ended,” said the Legislative Finance Committee.
Despite the slow-down, experts say revenue growth in New Mexico is still above the 10-year trend line.