JUNEAU, Alaska (AP) — A state forecast released Monday shows projected revenues down sharply from an estimate issued several months ago, with low oil prices and economic impacts from the COVID-19 outbreak cited as factors.

The state Revenue Department projects unrestricted general fund revenue of $1.6 billion for the fiscal year ending June 30, and $1.2 billion for the year starting July 1, excluding scheduled transfers from earnings of the state’s oil-wealth fund, the Alaska Permanent Fund. That is down from projections of $2.1 billion and $2 billion, respectively, from a forecast rele...