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La. Economists project COVID-19 will cause nearly $1 billion shortfall in state’s budget

MAY 12, 2020 | by Matt Houston, Nick Gremillion | KSLA NEWS 12 (LOUISIANA)

By Matt Houston and Nick Gremillion, includes “… State economists say the reduction in revenue is driven by plummeting oil prices and skyrocketing unemployment, both related to the Coronavirus Pandemic. … "There’s no crisis we’ve had that even comes close to this,” state economist Greg Albrecht said. ‘This is a Katrina-sized downgrade in the forecast... except without the boom that came after the hurricane.’ …”

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