Governor Steve Bullock today announced that Montana is included in the highest ranking group among states most likely to manage a recession, according to a new report released by Moody’s Investors Service.
“While Montana’s economy remains strong and growing, we also have the fiscal strength to safeguard us from factors beyond our control,” said Governor Bullock. “I’m pleased we were able to come together in this last legislative session to craft a budget that is not only balanced and funds the services Montanans expect, but also leaves money in the bank for unexpected things that might come our way.”
Montana was ranked in the stronger category overall for recession preparedness. Montana was also ranked strong in two factors: cover by reserves and financial flexibility. Under these factors, Montana could survive a full year of revenue declines with the reserves the state’s budget has on hand and could enable a faster response in a downturn.
The full report can be found at this link.