South Carolina economy doesn’t slow; state now has extra $1B

South Carolina News

South Carolina Gov. Henry McMaster talks about his plan to spend $500 million from COVID-19 federal relief money to improve and build new water systems in the state during a news conference on Thursday, Oct. 29, 2021, in Great Falls, S.C. The General Assembly will get the final say on how to spend the $2.4 billion in pandemic relief money. (Tracy Kimball/The Herald via AP)

COLUMBIA, S.C. (AP) — The amount of money in South Carolina’s state bank accounts continues to grow thanks to a quick recovery from the economic shock of the COVID-19 pandemic and people spending money much faster than experts predict.

The latest estimate from the state Board of Economic Advisers says South Carolina lawmakers will have nearly $1 billion more to spend this budget year.

That boosts the money that the General Assembly has control over to nearly $11 billion and doesn’t count at the roughly $3 billion in federal COVID-19 relief money coming to South Carolina.

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