The recession has dealt New York City’s economy a better hand than expected, but city officials yesterday painted New York State’s budget problems as the wild card still in the deck.

Testifying before the City Council about Mayor Michael Bloomberg’s preliminary $63.6 billion fiscal 2011 spending plan, budget director Mark Page said he will be working over the next few weeks to prepare for a $1.3 billion reduction of state aid.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.