HARTFORD, Connecticut — State Comptroller Kevin Lembo is projecting a $7.1 million budget deficit in the current $20 billion fiscal year budget and warning that state revenues may continue to erode.
The Democrat's estimate, released Monday, comes days before the General Assembly opens its regular legislative session.
Lembo says he believes Democratic Gov. Dannel P. Malloy's administration can address the deficit with reduced spending.
He warns that revenues may continue to drop given stock market declines and a slowdown of the global economy.
Republican legislative leaders stressed Monday that long-term structural changes to the budget are needed to stop the continuing spate of budget deficits in Connecticut. Their suggestions include changes to the state employee benefits.
The new fiscal year beginning July 1 is projected to be about $500 million in deficit.