A state panel has drastically lowered Delaware’s official government revenue estimates as the coronavirus outbreak continues to wreak havoc with the national and state economies.
The Delaware Economic and Financial Advisory Council on Monday lowered its revenue estimate for this year by $416 million, or 9%, compared to its March estimate.
This year’s revenue total is currently predicted to be almost 6% less than the amount collected last year.
The panel also lowered its revenue estimates for the fiscal year starting July 1 by $273 million, or 6%, compared to its March estimate.
