A report says Kentucky’s state government faces a revenue deficit that could approach $500 million in the current fiscal year.

As it is detailed in the report, the impact the coronavirus has had on the state’s economy and revenue collections.

It states that the nosedive in Kentucky’s revenue collections is expected to continue into the first half of the next fiscal year, which begins in July.

The report from state budget director John Hicks was released on Thursday.

Gov. Andy Beshear says projected revenue shortfalls pose a “real threat” when public assistance has never been more important in dealing with the economic fallout from the pandemic.