Revenue forecasts better than expected?

It’s all relative, but it appears that the state’s June revenue forecast released today is better than expected.

It forecasts an additional $297 million in lost revenue in the next budget cycle. Some had predicted revenues would dip up to $1 billion more.

The state’s budget director Victor Moore told the state Economic and Revenue Forecast Council that the administration will look at an additional 2 percent in cuts to keep the General Fund in the black. He said that means a cap on hiring and other “program efficiencies and reductions.”

We will know in the coming days and weeks how this plays out.

But as council director Arun Raha said, “It increasingly appears that we are finally approaching the end of this ‘Great Recession.’”