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flag Minnesota faces a $5.1 billion budget deficit by 2027, reversing a $616 million surplus.

flag Minnesota's financial outlook for the next two years is tighter, with a projected $616 million surplus shrinking to a $5.1 billion deficit. flag The state's economic forecast, due Thursday, will guide lawmakers in crafting a budget, highlighting lower tax revenues and higher spending. flag Governor Tim Walz will adjust his budget plan to address the shortfall, possibly using a $3.5 billion emergency fund. flag Lawmakers are seeking spending cuts and efficiency improvements to balance the budget.

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