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Perdue: Ga. economy better than nation's, recovery in 2008
With markets fluctuating wildly and federal officials fighting to calm fears that a recession is near, Gov. Sonny Perdue and his chief economist gave lawmakers a fairly optimistic outlook for Georgia.
Perdue's budget plan predicts a 5.4 percent increase in tax collections — mostly from income and sales taxes — during the fiscal year that begins July 1. And Perdue and Kenneth Heaghney, of Georgia State and the state's fiscal economist, said the state is in better economic shape than the nation.
Perdue told members of the House and Senate appropriations committees Tuesday that if it weren't for the bad financial news nationally, "we could think everything was great here in Georgia."
Heaghney said the economy should rebound in the second half of 2008, and Perdue's revenue estimate projects better times during the upcoming fiscal year.
Perdue made the remarks at the opening of weeklong hearings on his proposed $21.4 billion budget plan for fiscal 2009.
Perdue said his projections showed "prudent cautiousness of where we are going in Georgia."
http://www.ajc.com/metro/content/metro/stories/2008/01/22/budget_0123.html?cxntlid=homepage_tab_newstab