CHICAGO — In some rare positive news, Minnesota’s new revenue forecast released yesterday trimmed $209 million from the previously projected $1.2 billion deficit in the current two-year budget, although a $5.8 billion hole looms next year as the state prepares a new spending plan.

Though $209 million is not much of a drop, it marks a reversal in recent years of worsening forecasts. The estimates in the annual February forecast — which updates the annual November forecast — show a $25 million rise in revenue and a drop of $184 million in projected expenditures due to larger federal Medicaid reimbursements and lower human services spending.

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