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FIVE YEAR ECONOMIC AND BUDGET OUTLOOK

November 14, 2019 | Revenue Estimates

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Revenue Estimates
Revenue & Economic Update
Performance Budgeting
Energy
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Economics and Other

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Pennsylvania Independent Fiscal Office

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(Dec 04) PA natural gas production for 2023Q3 decreased by 0.5% from the prior year while new wells drilled decreased by 35.4%. Preliminary data suggest there will be fewer wells drilled in 2023 than any year in the last decade. See: ifo.state.pa.us/Resources/Docu… pic.twitter.com/3bPN205A5e
(Dec 01) The IFO published a summary of the 2023 SERS stress test report and projects that General Fund employer pension contributions will total $24.9 billion over the next 20 years if baseline assumptions hold. See the IFO Report at ifo.state.pa.us/Resources/Docu… pic.twitter.com/sUWHIpGJ8W
(Dec 01) The Commonwealth collected $3.06 billion in General Fund revenues for November, an increase of $107.9 million (3.7%) compared to November 2022 (adjusted). Fiscal year 2023-24 revenues totaled $16.15 billion, an increase of $287.8 million from the prior year. Report:… twitter.com/i/web/status/1… pic.twitter.com/2oPsfg49m7

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Independent Fiscal Office
2nd Floor Rachel Carson State Office Building
400 Market Street
Harrisburg, PA 17105