An economy on the brink of recession and 9% inflation weren’t enough to stop state government’s surplus from shattering the $4 billion mark, Gov. Ned Lamont’s budget office reported Wednesday.

The $4.3 billion surplus for the fiscal year that closed June 30 is unprecedented in state history, equals one-fifth of the last budget’s entire General Fund, and is 30% larger than the maximum budget reserve allowed by state law.