MADISON, Wis. (AP) -- Gov. Scott Walker says the state is still headed in the right direction despite a new revenue forecast that shows the budget will be $143 million short by July 2013.

Walker noted in a statement Thursday that there is projected to be a surplus at the end of the first of the budget this July.

Walker didn't detail what he would do to deal with the projected shortfall next year, other than promising not to raise taxes.

Walker says he is confident the state will be able to balance the budget.

The nonpartisan Legislative Fiscal Bureau says the Walker administration is looking at debt refinancing and restructuring to deal with the shortfall.