The US Congressional Budget Office (CBO) predicted that the federal budget deficit would reach $ 2.3 trillion in fiscal year 2021. CBO’s report stated that the budget deficit forecast for 2021 is approximately $ 900 billion less than last year.
The budget deficit is predicted to be considerably larger than before the COVID-19 epidemic, and it was stated that the economic disruption caused by the epidemic and the impact of the measures implemented in response to it.
The report noted that the federal budget deficit is expected to reach $ 2.3 trillion in fiscal year 2021.
The report, which also includes the growth forecast for this year, stated that the economy is expected to grow by 3.7 percent in 2021, returning to pre-epidemic levels in the middle of the year.
The budget deficit of the US federal government reached a record level of $ 3.1 trillion in fiscal year 2020 due to the impact of the Kovid-19 outbreak.
Source: Dünya Gazetesi by www.dunya.com.
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