New York’s top budget official said the novel coronavirus and its impact on the economy could cut the state's revenue by up to $15 billion
ALBANY, N.Y.—State revenue could fall by as much as $15 billion as a result of the novel coronavirus and its effect on the economy, New York’s top budget official said.
New York State Budget Director Robert Mujica, an appointee of Gov. Andrew Cuomo, said the state expects gross domestic product to shrink in the second quarter of this year and possibly beyond that. Last week, Comptroller Tom DiNapoli estimated state revenue would decline by $4 billion to $7 billion; Mr. Mujica said his latest estimate was a decrease of $9 billion...
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