Minnesota legislators will find out Thursday whether a future projected budget deficit of $5 billion has grown or shrunk. State budget officials will present Minnesota’s latest economic forecast, setting the stage for spending discussions at the Capitol.

Minnesota finance officials reported worsening in the state’s budget picture in the near term and down the road, saying a small fiscal cushion had shrunk and a future potential deficit has grown.

The revenue forecast will be the Legislature’s fiscal guide in coming up with a two-year balanced budget this session.