Hawaii revenue projections improve in latest forecast - Hawaii News Now - KGMB and KHNL

Hawaii revenue projections improve in latest forecast

HONOLULU (AP) - Economists say consumers are spending more money thanks to lower gasoline prices, and that may boost Hawaii's economy.

The Honolulu Star-Advertiser reports the state Council on Revenues is predicting higher revenue growth for the state than it was expecting.

The council revised its projections for the current fiscal year on Tuesday. They say revenue will grow by 4.5 percent, up from the 3.5 percent growth predicted in September.

Council on Revenues chairman Kurt Kawafuchi says the U.S. economy is strong and a lot of tourists are coming to Hawaii from the mainland.

That means the state is expecting to bring in roughly $55 million more in tax revenues in the current fiscal year, which ends June 30.

The council's forecast is used to determine the state budget.

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