Comptroller Lembo Puts Deficit at $42 Million in Current Year

With the economy still in a slow-growth mode, Comptroller Kevin Lembo projected Tuesday that the state's budget deficit will be $42 million in the current fiscal year.

The projection was made as part of Lembo's requirement to publicly update the state's fiscal health on the first day of every month.

Lembo largely agreed with Gov. Dannel P. Malloy's budget office - the Office of Policy and Management - regarding the revenue estimates, but he differed on the spending projections.

Compared to an annual state budget of about $20 billion, Lembo said the current projected deficit is relatively small.

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