Gov. Sonny Perdue has told state agencies they must come up with plans to trim up to 4 % from their budgets in the fiscal year that starts July 1. The current state budget is $21.2 billion.
Perdue also said the deficit for the current fiscal year could reach $525 million dollars, forcing the state to tap into its $1.5 billion reserve fund.
Georgia like many states across the country right now, is suffering from an economic slowdown.
Last month, tax collections were down by more than 31% in the Peach State compared to just last month.
For the fiscal year, tax collections are off by 0.1%