A SLOWDOWN IN REVENUE IS BEING FORECAST FOR NEW MEXICO BY THE STATE FINANCE AND ADMINISTRATION DEPARTMENT. THE ALBUQUERQUE JOURNAL REPORTS FINANCE SECRETARY TOM CLIFFORD BELIEVES REVENUE WILL BE AT LEAST 30 MILLION DOLLARS LESS FOR THE BUDGET YEAR THAT JUST ENDED. AMONG THE REASONS: LOWER THAN EXPECTED TAX COLLECTIONS AND A DROP IN OIL PRICES.
BUT CLIFFORD TELLS THE JOURNAL THE STATE SHOULD BE ABLE TO ABSORB THE DEFICIT, THANKS TO SPENDING RESTRAINTS.
FINAL REVENUE NUMBERS ARE DUE LATER THIS MONTH.
