via CNN:
New York City Mayor Eric Adams unveiled the state of the city’s economic outlook as part of a $102.7 billion budget proposal for 2024 on Thursday, highlighting slow economic growth despite spikes in tourism and jobs.
Adams touted investments that will be made into public safety and affordable housing while promoting what he called “strong fiscal management.”
The budget proposal will be voted on by the city council later this year.
“We crafted this budget in the environment of economic and fiscal uncertainty. While our country has made an amazing recovery since the darkest days of the pandemic, the national economy has slowed as the Federal Reserve raises interest rates to tamp down inflation,” Adams said on Thursday.
h/t Glenn