JEFFERSON CITY — Missouri Gov. Mike Parson said Wednesday the state would freeze about $180 million in planned spending as a result of the coronavirus-caused economic downturn.

Parson said the state faces a $500 million budget shortfall for the current fiscal year, which ends June 30.

In addition to the $180 million withheld Wednesday, Parson said he was hopeful the state would be able to use $315 million in federal funds to plug the budget hole.

“Doing so still may not be enough to solve the problem,” Parson said, adding that more cuts could be on the way.

Parson and state Budget Director Dan Haug said the lagging revenue collections would likely continue into the next fiscal year, which begins in July.

“COVID-19 has had serious impacts on our anticipated economic growth,” Parson said during his daily briefing. “And now we are expecting significant revenue declines, some of which may be larger than those experienced during the Great Recession.

“I want to assure you that these restrictions are absolutely necessary,” Parson said.