HARTFORD, Conn. (WTNH) — State officials have calculated the price tag on COVID-19 thus far as nearing $38 million.
The good news is the state budget is holding strong. There is a solid “rainy day fund” built up to the tune of $1.5 billion.
The state comptroller and governor’s budget director will continue to monitor how COVID-19 is affecting revenues across the state. Officials said with all of the businesses being closed and the pressure being mounted on the government to provide services, there will be an economic hit.
“Note that our estimate does not reflect the likely breadth and scope of the potential economic impacts from the pandemic on the state’s revenue streams,” said CT Office of Policy and Management Melissa McCaw. “We anticipate growing disruptions as more segments of the economy pause operations.”