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Gov. Lujan Grisham releases FY24 executive budget recommendation

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SANTA FE – Amid an unprecedented fiscal outlook for the state, the New Mexico Department of Finance and Administration on Tuesday released the FY24 Executive Budget Recommendation from the administration of Gov. Michelle Lujan Grisham, totaling $9.4B in recurring spending, an 11.9% increase from the last fiscal year. The executive recommendation will maintain reserves at 34.9%, among the highest in state history, while increasing investments in priority areas like housing and homelessness, health care and behavioral health, education and child well-being, public safety, and economic development and tax rebates.

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