The days of double-digit revenue growth in New Mexico may be long gone, but the state’s financial outlook remains strong.

The state is projecting $14.1 billion in recurring revenues for the upcoming fiscal year, including nearly $485 million in “total new money,” or the difference between the current budget and expected revenues in the next fiscal year.

While recurring revenues are expected to grow only 2.9% over fiscal year 2026, the state is on firm financial footing, Wayne Propst, Cabinet secretary of the New Mexico Department of Finance and Administration, said Tuesday during a revenue outlook report to the Legislative Finance Committee.

“I keep thinking that one of these days I’m going to have to show up with some bad news,” Propst told members of the committee, which is meeting in

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