- Associated Press - Wednesday, October 22, 2014

ALBANY, N.Y. (AP) - New York’s comptroller reports that state government spending increased 3.3 percent to $137.5 billion in its last fiscal year, while its debt declined slightly to $63.3 billion.

The report on the state’s fiscal condition for the 2013-14 year, which ended March 31, says spending increases have been in line with inflation, growing 8.4 percent since 2010.

Comptroller Thomas DiNapoli says budgeting and the strengthening economy have helped address New York’s structural financial imbalance, with a better cash outlook than a few years ago. But he said more progress is needed.

The report notes that state spending has been partially paid for through borrowing $17.1 billion since 2010, including $2.7 billion in 2014.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More

Click to Hide