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Hilo, Hawaii News, Sports, & Information Thursday, December 18, 2014



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Posted: Thursday, January 9th, 2014 1:38 PM HST

Council lowers Hawaii's revenue forecast

By 67AM KPUA News

The year end slowing of economic activity has apparently convinced the State Council on revenues to adopt a more cautionary outlook going forward. The Council this week voted 4-3 to lower its forecasted revenue growth for Fiscal 2014 from 4.1 to 3.3 percent,
meaning the state can expect to take in $43 million less.

The Council however, voted unanimously to maintain its projection of 7.4 percent revenue growth for Fiscal 2015, when construction is expected to accelerate. Economists and tax experts on the council believe the economy is still growing, but not at the same pace as earlier in the recovery. Tourism, in particular, has cooled after an impressive rebound from the recession.



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