Reeves: Mississippi in good financial condition

Published 5:11 pm Tuesday, May 6, 2008

State Treasurer Tate Reeves says Mississippi is in good financial shape and that could help with national financial markets.

He is praising budget writers for filling the rainy day fund, which provides a financial cushion in tight times, and for limiting long-term debt.

He says he wishes lawmakers had planned to spend only 98 percent of projected revenues instead of 100 percent.

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The new budget year starts July 1.

Republican Reeves said in the next two months, he and Gov. Haley Barbour will speak to bond rating agencies about Mississippi’s financial condition. The rating determines how much interest the state pays on its debt.

Reeves spoke Monday at a luncheon sponsored by the Capitol press corps and Mississippi State University’s Stennis Institute of Government.