State budget forecasters project extra money on the state's bottom line in the next two years but there are warning signs of a potential big deficit in the future.

Minnesota budget officials on Wednesday projected a modest surplus of $616 million for the next two-year budget cycle, and a multi-billion dollar deficit looming in the following years. Minnesota Management and Budget (MMB) released the state’s latest economic forecast on Wednesday morning.

According to the Minnesota state budget office, as of Wednesday morning there is now a short-term surplus of $616 million through 2026-2027.