North Carolina is in stronger financial position than anticipated, economists say

RALEIGH, N.C. (AP) – North Carolina is in a stronger monetary place than funds analysts anticipated final yr firstly of the pandemic.

A bunch of economists on the Workplace of State Funds and Administration and the Common Meeting’s Fiscal Analysis Division now mission the state to have $4.1 billion extra in income this fiscal yr than anticipated.

The report notes {that a} small share of the inhabitants will stay unemployed or underemployed so long as the coronavirus is prevalent. The additional income primarily got here from larger earnings and gross sales tax collections and robust enterprise tax collections.

The projections assume COVID-19 circumstances will lower as extra folks get vaccinated and that Congress will move one other stimulus invoice.

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