During his Jan. 16 budget rollout at City Hall, Mayor Adams proclaimed the city's economy is now booming due to his administration's continued strong fiscal management.
He attributed the city's stronger financial footing to the receding migrant crisis, which he presented last year as an existential threat to its finances.
Adams said the city has spent $6.9 billion on sheltering and otherwise providing for over 230,000 migrants who have arrived in the five boroughs since spring 2022.
The steps we took to achieve savings combined with revenues from a robust economy enable us to balance the Fiscal Years 2025 and 2026 budgets, Adams said.
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