Gov. Joe Manchin says West Virginia's finances are in good shape to weather the turmoil in the national economy.

Manchin says his administration's efforts to pay off nearly $1 billion in debt and the accumulation of $568 million in a rainy day fund have put the state in a good position.

West Virginia's economy won't completely escape, but Manchin says the effects of a downturn should be minimal.

State Deputy Revenue Secretary Mark Muchow says the state's economy doesn't depend on the financial sector. Muchow says state banks should be fine unless the crisis continues and consumer confidence and the availability of obtaining credit disappears.

Manchin says he has asked for a review of the state's portfolio before lawmakers return next year.