The PA Independent Fiscal Office, a non-partisan state research agency, recently released its five-year Economic and Budget Outlook report.

The report evaluates the demographic, economic, revenue and expenditure trends that will affect the Commonwealth’s fiscal condition through fiscal year (FY) 2024-25 and includes a historical comparison of General Fund program expenditures and revenue trends. For the period FY 2014-15 through FY 2019-20, the data reveal that expenditures expanded at a rate of 4.0 percent per annum, or roughly 0.6 to 0.7 percentage points higher than average revenue growth of 3.3 percent per annum.


Click here, to download the report.