KUAR | By Wesley Brown / Arkansas Advocate
A mild recession and a holiday spending hangover. That’s what economic forecasters predict for 2023 as lawmakers head to the state Capitol in January.
Rising interest rates and persistent inflation will push the economy into a downturn, experts say, and those economic clouds could also cause the 94th General Assembly to consider any robust spending programs in light of a possible nationwide slowdown.
As Gov. Asa Hutchinson winds down his administration, he recently reported to lawmakers that Arkansas’ budget coffers are overflowing with $2.78 billion of reserve funding.