March 2021 Forecast: Trusting the Unknown

March 2021 Forecast: Trusting the Unknown

Beginning in March and April each year, we go through the process of emptying our metaphorical cup in order to be refilled with new spring vitality. This year, there are two significant transitions taking place at the same time: With the passage into Aries on March 20—and with the beginning of the new astrological era on December 21 with the big conjunction of Saturn and Jupiter—we welcome the new astrological year and go on in the new astrological era (when the twoplanetshad theirclosest encounterinnearly400years).

Free yourself from the need to control a destiny that is out of your control by accepting that you cannot.

The new moon in Pisces, which occurs on March 13, encourages you to avoid becoming entangled in illusion and to explore fresh avenues for letting go of any feelings that may be preventing you from acting with an open, loving heart.

When we let go of the notion that we should know something, we allow ourselves to be receptive to the truth of what we actually do know.

On March 20, the sign of Aries makes its way into the Sun, signaling the beginning of the astrological New Year.

When the Libra full moon occurs on March 28, it may be revealed what it is that ignites a fire in you at this time of change, prompting you to be more present and grounded in the here and now.

Key Planetary Dates

Mars, the planet that represents drive and desire, enters the zodiac sign of Gemini on March 3rd, which is an intellectual sign that represents the collecting and synthesis of knowledge. Follow your interest, but don’t let it distract you from your goal. However, be careful what you say because Mars has the potential to inflame tempers. Make use of the principles of yamasbrahmacharya (moderation) and ahimsa (non-harming) to govern your conversation throughout the remainder of the month. Mercury and Jupiter, who are both in Aquarius, will meet up on the same day.

  • This meeting in Aquarius might herald a period of transition.
  • March 9-10: For the next several days, the moon will be in the sign of Aquarius, prompting us to consider how we may re-envision our life in the future.
  • The new moon in Pisces occurs on March 13th.
  • However, use caution and remain mindful of your own boundaries.
  • Mercury enters Pisces on March 15th, allowing the analytical mind to connect with your intuition and creativity more easily.
  • March 20: With Saturn in Aquarius trine Mars in Gemini, you’re encouraged to get your body moving and to get some exercise.
  • Today, do something to get your blood circulating in order to increase your precious prana.

Consider what you wish to bring to life in Spring while you meditate on it.

Our relationships may evolve and change course in unexpected ways.

Venus is cazimi on March 24th, an aspect that translates as “in the heart of the Sun,” and this placement frequently heralds the end of negative patterns that have been in place for a long time.

On March 28, there is a full moon in Libra, which represents an opportunity to put certain things back into balance that may have gotten out of hand.

Allow yourself to take a minute today to lay one hand on your heart and the other on your naval.

Take a few deep breaths to bring harmony to your inner being. The conjunction of Neptune and Mercury in Pisces on March 29th provides a cosmic spiritual force. By engaging in your chosen contemplative activity or meditation, you may take in global intelligence while allowing your ideas to flow.

Why We Care – 25 March 2021

Sundeep Bhutoria is the photographer who took this photograph. It was the first day of Farvardin, the first month of the Iranian solar calendar, which began on March 21 with the rising of the sun at the spring equinox. It was a celebration, in the words of United Nations Secretary-General António Guterres, “to reflect on the beauty of nature, the promise of spring, and the power of culture to build peace.” Images of calm in its fullest meaning, of the complete absolution of apprehension, and of the triumphant trajectory of faith are evoked with spring vivacity in our accompanying shot today, taken once again by Sundeep Bhutoria, and depicted with vernal vivacity.

In part, those soaring sentences are an attempt to win back the affection of Hawi, the three-year-old daughter of the sweet and never-flappable Brenda Wawa of our UNAI team, who was enraged that I did not use this photograph for the previous week’s feature image.

The very concept of “trusteeship” in the Charter was based on the goal of “promot[ing] political, economic, social, and educational advancement of the inhabitants of the trust territories, and their progressive development towards self-government or independence (through) the freely expressed wishes of the peoples concerned.” But, above all, trust was about bringing people together, whether in the United Nations General Assembly Hall, its conference rooms, or the streets of New York.

As the United Nations General Assembly recognized eighteen months ago when it declared 2021 as the “International Year of Peace and Trust,” qualities such as “accepting differences and having the ability to listen to, recognize, respect, and appreciate others, as well as living in a peaceful and united way” are essential for achieving peace and trust.

According to Secretary-General Guterres, tourism “may serve as a platform for combating the epidemic” as recently as June of last year.

People will go tomorrow if they have faith in their governments and the tourist industry to keep them safe from danger.

Only in this way will we be able to restore our economy to development and begin the process of rebuilding our society.” In a talk at the Prabha Khaitan Foundation, Nakul Anand, Executive Director of ITC Limited in India, expressed the belief that trust “must be uncompromising.” Previously hidden processes like as cleaning and food preparation are now carried out in full view of the public in a manner that is secure, communicates friendliness, and encourages visitors to have greater faith in the quality of service they are receiving.” At a time when tourism was “one of the hardest hit economic sectors by the COVID-19 pandemic, facing a decline in international tourist arrivals between 58 percent and 78 percent during 2020, with 100 to 120 million direct tourism jobs at risk,” the Executive Council of the United Nations World Tourism Organization met in Tbilisi, Georgia, exactly a year after the General Assembly’s resolution on the disease.

“Building trust and confidence among travellers, workers, and host communities through the provision of transparent and objective information, as well as the implementation of adequate health, hygiene, and safety protocols with a special focus on promoting inclusion for all travellers.promoting national and regional tourism, as well as rural, gastronomic, mountain, natural heritage, adventure, maritime and coastal tourism, and cultural tourism,” according to the Council of Europe.

There is an echoe of the proclamation made at the World Tourism Organization’s very first General Assembly, held in Madrid in 1975, which spoke of “the physical and moral circumstances” in which its work was carried out, in these numerous connections between tourism and trust.

For the MLOW essay contest, which was co-hosted by ELS and UNAI from 2014 to 2017, university students from all around the globe were encouraged to submit an essay about global citizenship, cultural understanding, and the role of multilingualism in cultivating both.

Participants in the contest – a total of 250 over the course of four years – were invited by ELS to the United Nations Headquarters for the Global Youth Forum, where they developed and presented action plans for the United Nations Sustainable Development Agenda (one of the winners, Irfan Ahmad, haspinnedhis own presentation in the United Nations General Assembly Hall on his Twitter feed.) During their first meeting, Mark recalls a “magnetism that was hard to explain; no matter their cultures, their ambitions and desires for humankind are the same,” ambitions and desires rooted in the trust fostered by communication without an interpreter, to be, as 2016 winner Bahati Ernestine put it so poignantly, “the voice of the voiceless,” seeing MLOW as a way “to amplify my voice on behalf of all repressed people around the world.” When asked about overpopulation on the planet earth, Mark Harris stated in his 2016 J.

Michael Adams lecture presented by UNAI that “we are now fighting for resources in such a way that we no longer desire to accept our neighbours.” The issue is not merely one of poverty or hunger; it is also one of people’s inability to tolerate another.

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In the place where she writes, the poet recalls an ocean that bloomed from dawn to dusk, how seeds hurled wildly at the wind might yet open wide and far into the glittering unknown.

In the same way that travel and language are used to traverse oceans and experiences, as Ms.

Ramu Damodaran is the Director of the United Nations Academic Impact Program.

What we know and don’t know about Covid-19

What we know and don’t know about Covid-19 is summarized here. (Photo courtesy of Jaafar Ashtiyeh / Getty Images.) ) Over the course of the past year, BBC Future has attempted to delve further into the science underlying the epidemic as it has progressed further. What have we learned thus far, and what remains a mystery? O One of the difficulties in comprehending Covid-19 is that all of the scientific research has taken place in the public eye. The majority of the time, by the time you read about scientific research on a news website like the BBC, it has already been subjected to a rigorous process of investigation, development, and review.

  • And the real science was done on a laboratory bench, in an MRI machine, or on the surface of a planet far before then, perhaps even years ago, according to some estimates.
  • What makes Covid-19 unique is that we, the general public, politicians, and journalists, have all had the opportunity to see science at its most cutting-edge.
  • It is conceivable for humans to be fallible and biased.
  • This is how we learn about the way the world works and how we progress as a species toward better understanding.
  • Findings are examined and re-tested, duplicated or not, and study by study, a clearer, somewhat more truthful image of the world emerges as a result of this process.
  • Because of the urgency of the epidemic, there hasn’t been enough time to achieve consensus, smooth out disputes, and reject erroneous paths – and this has resulted in a variety of difficulties.
  • In other instances, contentious single voices have been amplified to greater prominence.
  • Over time, some of what we thought we understood a year ago has shifted, some of it has developed, and some of it remains a mystery to us.
  • Now, as we approach the one-year anniversary of the outbreak, it is appropriate to take stock.
  • And what new questions are arising as a result of this?
  • However, the following is a glimpse of where we are in early 2021: WHAT WE ARE AWARE OF It is important to have good ventilation inside.

Cleaning surfaces, donning masks, and washing hands are all still important, but so is ventilation interior areas with fresh air to combat the spread of disease. More information on the significance of ventilation may be found at:

  • Covid-19: How to travel securely on public transportation, including the bus, train, and metro
  • There are five steps you may take to avoid contracting the virus inside

Masks are effective. In the lack of reliable evidence, some governments, such as the United Kingdom’s, were hesitant to endorse face masks, while others went ahead and did so regardless. The preventive strategy was ultimately successful. Masks have shown to be a simple and efficient method of reducing the transmission of infectious diseases. Face visors, on the other hand, are far less effective. More information about face coverings may be found at:

  • Why we should all be using face masks is explained here. Why using a face shield may not be enough to protect you from the coronavirus

It’s possible that handwashing is still necessary. Handwashing was at risk of being overlooked amid the frenzy around localized lockdowns and social distance. Handwashing is a critical component of the fight against coronavirus and should not be overlooked. However, although transmission via inanimate surfaces is currently considered to be extremely uncommon, there is evidence that the virus may be discovered on the hands of sick persons, raising the possibility of them infecting others in the process.

Learn more about handwashing by watching the video below:

  • How long does it take for a 20-second handwash to destroy Covid-19
  • The underlying reasons why some individuals don’t wash their hands

However, it is not yet apparent what the long-term societal consequences of the epidemic will be. (Photo courtesy of Joaquin Sarmiento/Getty Images) ) Different people are affected by the virus in different ways. In addition to age disparities, it was discovered that the virus was more severe in males than in women, and that some racial groups were more sensitive than others. People also appear to be immune to the pandemic due to a strange hidden immunity that they may have developed long before the outbreak began.

  • Individuals that have strong Covid-19 resistance are known as “outliers.” When it comes to Covid-19, men and women are treated differently. Coronavirus: Why are certain racial groupings more vulnerable than others? How Covid-19 has the potential to annihilate indigenous populations
  • These are the individuals that have a covert immunity to Covid-19

The virus has the potential to cause organ damage. Despite the fact that Covid-19 is a respiratory virus, it is not limited to causing damage to the lungs. As a result, scientists have discovered that it may infect the cells that line blood arteries as well as a variety of other vital organs including the heart, the brain, the kidneys, the liver, the pancreas, and the spleen. Even in young, low-risk individuals, the impact has been shown. The duration of the impairments is unknown, as is the possibility of a complete resolution of the impairments.

However, the majority of individuals are unaware of this.

More information on the psychology that underpins our response to the threat posed by the pandemic may be found at:

  • This is the numerical mistake that lies behind Covid-19’s exponential growth bias.

Coronavirus vaccinations are both safe and effective in protecting against the virus. Scientists working on vaccines have to act extremely quickly and under extreme time constraints. They have met the high standard of worldwide expectation by delivering safe and efficacious vaccinations that have been extensively evaluated in clinical studies.

One of our journalists volunteered to take part in the Oxford-Astrazeneca experiment, and he is still taking his weekly swabs months later. This gave BBC Future inside knowledge of the process. More information about the vaccination trials may be found at:

  • Coronavirus vaccinations are both safe and effective in protecting against the disease. It was a race against the clock for vaccine scientists who were under immense time constraints. They have met the high standard of international expectation by delivering safe and efficacious vaccinations that have been extensively evaluated in clinical studies. One of our journalists volunteered to take part in the Oxford-Astrazeneca experiment, and he is still taking his weekly swabs months later. This gave BBC Future inside knowledge of the trial. You may find out more about the vaccination trials by visiting the following website:

Coronavirus vaccinations are considered to be safe and effective. Scientists working on vaccines have to work extremely quickly and under extreme time constraints. They have met the high standard of international expectation by delivering safe and efficacious vaccinations that have been extensively evaluated in clinical studies. One of our journalists agreed to take part in the Oxford-Astrazeneca experiment, and he is still taking his weekly swabs months later. More information about the vaccination trials may be found here: Herd immunity is mainly achieved by vaccination.

  • There are a variety of reasons why this is not generally accomplished by deliberately permitting a virus to propagate, contrary to the impression that you may have had during the epidemic.
  • Herd immunity, on the other hand, may be established by vaccination, which causes substantially less collateral harm and may give greater protection against naturally occurring illnesses.
  • Having said that, the current Covid-19 vaccines were not evaluated based on their capacity to prevent the transmission of the virus; rather, they were evaluated based on their ability to protect people from getting symptoms and becoming ill with the disease.
  • There are some preliminary indications that alternative vaccinations may be able to completely prevent it.
  • Why persons who have been vaccinated may still be able to spread Covid-19

The death rate varies from one country to another. There are a variety of reasons for this, most of which have to do with the way fatalities are recorded. Because of this, it might be difficult to compare death rates across various nations, which is one consequence. Such discrepancies in the way deaths are tallied are very uncommon during epidemics, and they are not limited to Covid-19. More information may be found at: The epidemic has proven the importance of simple, daily behaviors including as hand washing, social distance, and using a mask (Pedro Pardo/Getty Images) in combating the disease.

  • More information may be found at: Social separation has been around for more than 400 years.
  • See if there’s anything more we can learn from the plague: Vaccine rollouts need public confidence.
  • The incident can be used as a model for current national immunization initiatives.
  • (Photo courtesy of John Lamparski/Getty Images) ) WHEN IT COMES TO WHAT WE DON’T KNOW The research is continuous, and we’re still discovering new things about this virus on a daily basis.
  • For how long will those suffering from Long Covid be affected?
  • (In other words, will its consequences be carried down through the generations?) And that’s not even taking into consideration the social and economic consequences.
  • How to deal with the’mass trauma’ that Covid-19 has caused
  • How Covid-19 has the potential to reshape our planet
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What will be the virus’s next step? Every time the coronavirus is passed from person to person, it picks up little modifications to its genetic code. However, scientists are beginning to identify patterns in how the virus is changing and are working to understand why. More information on how Covid-19 is altering its behavior may be found here:

  • In what way the new Covid-19 variations will affect the pandemic
  • What will be the future evolution of Covid-19

The potential appearance of the next pandemic Which illnesses have the greatest chance of causing the next global pandemic? In recent weeks, BBC Future has been investigating six of the diseases that are most likely to lead to the next one, as well as the work being done to attempt to prevent them from spreading. More information may be found at:

  • Stopping the next one: Who knows what the next pandemic will be like. The danger presented by the Nipah virus
  • And How mosquitoes are causing the spread of new diseases. The other coronavirus that continues to cause concern among scientists is It is possible that swine flu may continue to be an issue. How vaccination monkeys could be able to avert a pandemic The spread of the flesh-eating illness in Australia is alarming.

What is the environmental ramifications of the pandemic? In spite of large reductions in short-term emissions of greenhouse gases and air pollutants at the start of global lockdowns, they swiftly increased again throughout the course of the year. In all, CO2 emissions decreased by little more than 6 percent in 2020. While environmentalists are concerned that the pandemic will have a long-term impact, they are also wondering whether our Covid-19 crisis-responses mode could serve as a model for our response to climate change.Learn more about the impact Covid-19 is having on the natural world by reading the following articles:

  • Is Covid-19 going to have a long-term impact on the environment? Did the coronavirus aid in the healing of the environment?

Please check back in the future to see what else we have learned and to see if we are able to provide solutions to any of the mysteries that still remain. Richard Fisher, Martha Henriques, Stephen Dowling, Richard Gray, Zaria Gorvett, Will Park, and Amy Charles collaborated on this compilation.- Join our growing community of one million Future enthusiasts by like us on Facebook, or by following us on Twitter and Instagram.

If you like this story, you should subscribe to “The Essential List,” a weekly features email published by BBC.com. Every Friday, you’ll receive a curated selection of articles from BBC Future, Culture, Worklife, and Travel, sent directly to your email.

Three quarters of CEOs predict a return to growth in 2021

  • In a poll of more than 5,000 CEOs throughout the world, PwC discovered unprecedented levels of optimism. According to CEOs, global economic growth will increase in 2021 by 76 percentage points. The confidence in the ability of enterprises to grow their own revenues has returned. According to CEOs, the United States has maintained its lead over China as the most promising development location. Despite the fact that we are in the year of COP26, climate change is still not being addressed with urgency.

11th of March, 2021 – One year after COVID-19 was declared a pandemic, CEOs around the world are expressing unprecedented levels of confidence in the global economic recovery, with 76 percent of global business leaders predicting that economic growth will improve in 2021 and 2022, respectively. The data comes from PwC’s 24th Annual Global CEO Survey, which interviewed 5,050 CEOs in 100 countries and territories over the course of two months in January and February of 2021, according to the firm.

  • This represents the greatest level of optimism since the study began asking this topic in 2012.
  • “After a year marked by personal tragedy and widespread economic suffering, it is heartening to see that those in charge of making investment decisions and employing new employees are cautiously hopeful about the year ahead,” says the author.
  • The CEOs of Fortune 500 companies have had to rethink and rearrange their businesses and operations in the wake of the financial crisis, while dealing with strained balance sheets and supporting staff who have been forced to navigate these unprecedented conditions.
  • In order to emerge from the pandemic as robust, resilient, and productive firms that can weather future shocks,” organizations who do this right will be in the greatest position to do so.
  • CEOs are feeling more upbeat about the future of their companies than in previous years.
  • While worldwide confidence is increasing, there is substantial heterogeneity among businesses, indicating the varied degrees to which consumer behaviour has been influenced by the epidemic.
  • Meanwhile, CEOs in the transportation and logistics (29 percent ) and hospitality and leisure (27 percent ) sectors are among the least confident about their ability to grow revenues over the next 12 months.

In 2020, the US was only one percentage point ahead of China.

They are reducing their emphasis on China as a growth driver and increasing their focus on Canada and Mexico; compared to 2020, US CEOs’ interest in the latter two countries rose by 78 percent .

At 17 percent , Germany holds on to its number three spot on the list of growth destinations, while the UK, post-Brexit, moves up to number four (11 percent ), surpassing India (8 percent ).

Japan also rises up the ranking to become the sixth most attractive growth destination, overtaking Australia which held that position last year.

This represents only a marginal increase in the context of COP26, which is being held this year in Glasgow, UK.

Climate change still only ranks ninth among CEOs’ perceived threats to growth.

This may be because climate change is not seen as an immediate threat to growth compared to other issues such as the pandemic, over-regulation and cyber threats.

And 43 percent believe their organisation needs to do more to ‘report’ on it, a greater share than any other disclosure area.

However, 60 percent of CEOs have not yet factored climate risks into their strategic risk management activities, which is concerning as climate change poses increasing physical and transitional risk for business.

While 23 percent of CEOs plan to significantly increase investments in sustainability initiatives as a result of COVID-19, almost one third of CEOs are planning no change at all.

This requires the financial markets taking a broader view of value, beyond solely financial return and short-term value, so capital will flow to the right places.

Companies that get this right will enhance their brand and build trust with their stakeholders.” Worries about cyber, tax policies and misinformation on the rise Not surprisingly, pandemics and health crises top the list of threats to growth prospects, overtaking the fear of over-regulation, which has been the perennial number one concern for CEOs globally since 2014.

  • This, coupled with the significant increase in cybersecurity incidents in 2020 including ransomware attacks, has resulted in cyber threats leaping up the list to become the number two concern, cited by 47 percent of CEOs compared to 33 percent in 2020.
  • Also rising rapidly up the list of CEO concerns is the spread of misinformation (28 percent , up from 16 percent in 2020), which has had an impact on elections, reputation, and public health – further contributing to a decline in trust across society.
  • This year, it has increased rapidly in importance, leaping up to seventh place (31 percent ), with CEOs undoubtedly watching government debts accumulate and realising that business taxes will likely need to rise.
  • Despite the rising level of concern CEOs are voicing about cyberattacks, this has not translated into definitive actions.
  • At the same time, a growing number of CEOs – 36 percent – plan to use automation and technology to make their workforce more competitive, more than double the share of CEOs who said the same in 2016.
  • Although the shape of the recovery remains unknown, it is clear that we cannot simply go back to the way things were before.
  • In doing so, they’ll set a course that builds trust and delivers sustained outcomes for shareholders, society and our planet.” ENDS Notes: Download the report atceosurvey.pwc.
  • This is up from 3,501 respondents in last year’s survey.

Further details by region, country and industry are available on request. Of the 1,779 CEOs whose replies were utilized for the global and regional figures:

  • Their organizations had revenues of US$25 billion or more
  • 9 percent of their organizations had revenues between US$10 billion and US$25 billion
  • 35 percent of their organizations had revenues between US$1 billion and US$10 billion
  • 34 percent of their organizations had revenues between US$100 million and US$1 billion
  • 14 percent of their organizations had revenues of up to US$100 million
  • And 60 percent of their organizations were privately owned. Sixty-percent of their organizations were privately owned.
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In addition, we conducted in-depth, face-to-face interviews with CEOs from six different geographic regions. We’ve included excerpts from a few of these interviews in this article, and more complete transcripts may be obtained on our website at.

States Forecast Wide-Ranging Effects on Revenue Since the Pandemic’s Start

Several states received a significant boost on March 11 when President Joe Biden signed a $1.9 trillion disaster relief plan that includes an additional $195 billion in federal funds to help close budget gaps and reconstruct economies that have been decimated by the coronavirus outbreak. All states were affected by the worst economic slump on record in 2020, while some were hit more than others, with some suffering from significantly worse budgetary situations and requiring greater federal assistance.

  • In the current budget year, which generally ends on June 30, 19 states expect revenue to shrink, with 13 of those expecting further declines on top of losses from the previous year. When both current fiscal year and the previous fiscal year are taken into consideration, 23 states predict total projected revenue to be lower than it would have been had it maintained at pre-pandemic fiscal year 2019 levels, excluding inflation. Twelve states are likely to continue positive nominal revenue growth in nominal dollars for fiscal 2020 and fiscal 2021, but at a slower rate than previously predicted

According to the newly adopted federal assistance package known as the American Rescue Plan, Congress recognizes that certain states have been impacted more severely than others: A greater proportion of funds are directed to states with higher unemployment rates, rather than help being distributed only on the basis of population. A variety of goals, including making up for lost revenue and funding government services, are open to consideration by the states with the funds. Alaska and Wyoming, two states that are expected to suffer the greatest total income losses during the current and previous fiscal years, have seen their taxes on the extraction of natural resources collapse.

As a result of the sluggish development in the economy, Idaho, Washington, and eight other states anticipate to sustain positive revenue growth in both years, but at slower rates than initially predicted.

The amount of money that states will receive is still up in the air, given the uncertainty about the virus’s course and the status of the economy, as well as the inherent difficulty of precisely projecting tax collections months in advance.

According to a 2011 Pew Research Center research, historically, states underestimate revenue during economic expansions, but are more likely to be overoptimistic during economic downturns.

Nonetheless, according to a national projection released by Moody’s Analytics in February, aggregate state government general fund revenue will decline for three consecutive years (from fiscal 2020 through fiscal 2022), resulting in a combined revenue loss of approximately $100 billion over that period.

Furthermore, income declines on their own understate the severity of the budgetary issues that prompted Congress to accept further state and local assistance.

States with largest projected revenue losses

At least seven states’ forecasts, the majority of which were issued before the latest federal coronavirus relief package was approved, predicted general fund revenue for fiscal 2020 and 2021 that would be more than 5 percent lower than it would have been had collections in both years remained at pre-pandemic fiscal 2019 levels, without taking inflation into account. Energy-producing states were among the most impacted, as they dealt with the consequences of the coronavirus outbreak, as well as decreasing oil and natural gas prices that predated the pandemic and reduced revenue.

  • According to the stateforecast, just six operational oil and gas rigs were working in Wyoming at the end of December, down from more than 30 rigs during much of 2019.
  • As a general rule, energy-producing states have much greater reserve funds to assist them weather rapid income changes; however, Alaska has a significantly smaller reserve fund after drawing down its resources dramatically in recent years.
  • Following the collapse of the state’s tourism industry, Hawaii’s most recent projections in early March predicted a nearly 3 percent annual decline in general fund tax revenue, on top of a 6 percent decline the previous fiscal year.
  • General fund receipts in Nevada are expected to decrease even more this year, following a nearly 5 percent decline in fiscal 2020, during which casinos were closed for several months.
  • It matters when projections are produced: forecasts published more recently tend to be more positive as a result of the improving national economic outlook in the United States.
  • For example, Alaska’s most recent projection did not include the newest round of federal coronavirus assistance for fiscal 2021, although Oregon’s estimate, released last month, did include the latest round of federal coronavirus assistance.

As a result, even stagnant growth might result in budget shortfalls. In the decade prior to the implementation of COVID-19, total state general fund revenues recorded by the National Association of State Budget Officers (NASBO) increased by an average of 3.8 percent per year, excluding inflation.

States expecting top revenue growth

Several governments that had robust economies prior to the pandemic were able to prevent a reduction in overall income. This fiscal year, Washington expects to see continued strong revenue growth. When combined with increases last year, the state expects to collect nearly 12 percent more than it would have collected if collections had remained at pre-pandemic fiscal 2019 levels, the largest two-year gain in the country. According to the state’s most recent prediction, retail sales were high, and the real estate market was rising.

The state of Utah received enough money to approve a series of tax cuts for Social Security beneficiaries, veterans, and families with children, despite the economic downturn as a whole.

This was an increase over an earlier forecast provided just prior to the COVID-19 outbreak, which had been significantly lower.

With more federal assistance and a more aggressive vaccination rollout, several states may wind up exceeding their most recent forecasts, which were given between December 2020 and early March 2021, before the passage of the most recent law.

Part of the reason for the improvement in the fiscal picture is that previous rounds of federal aid and enhanced unemployment benefits assisted in boosting state economies and tax revenues.

Many economists predicted that employment and the stock market in the United States would rebound more quickly than they did.

About the data

Pew Research Center examined each state’s most recent updated revenue projection as of March 18, 2021, with the majority of them having been released since December of the previous year. Except in those states where officials advocated incorporating additional monies, all revenue data indicate net general fund receipts, unless otherwise stated. Revenue losses or gains for fiscal 2020 and fiscal 2021 were added together to account for income tax filing delays that deflated certain states’ fiscal 2020 totals due to the devaluation of the dollar.

An associate with The Pew Charitable Trusts’ state fiscal health effort, Barb Rosewicz is a project director and Mike Maciag is an officer. Alexandre Fall is an associate with the same initiative.

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