State revenue collections miss forecast again

Mississippi’s revenue collections in May indicate the economy still has not recovered.

May revenue came in at 12.61 percent, or $51 million, below estimates. May was the worst month for tax commission collections since May 2009 and marks the 20th month out of the last 21 months in which revenue collections have fallen short of expectations, according to the Governor’s Office.

“It’s clear that we will have to continue to scrutinize our expenditures closely, as the deep global recession continues to affect our states revenue. However, the adjustments made already appear to be sufficient to stave off any need for additional budget cuts at this time,” Barbour said.