The US federal government’s budget deficit was recorded as $ 162.8 billion in January. The budget deficit, which exceeded the market expectations, was estimated to be 150 billion dollars.
The US Treasury Department has published its budget balance report for January. Accordingly, the federal government’s budget deficit was calculated as $ 162.8 billion in January of the fiscal year 2021, which started on October 1, 2020 and will end on September 30, 2021.
During this period, the budget deficit, which was above market expectations, was estimated to be 150 billion dollars. The federal government had a budget deficit of $ 32.6 billion last year.
The government’s revenues increased by 3.3 percent in January compared to the same month last year to $ 384.7 billion, while spending increased by 35.2 percent to $ 547.5 billion.
FOUR-MONTHLY BUDGET DEFICIT INCREASED BY 89 PERCENT
As of January, which is the fourth month of the fiscal year 2020, the total budget deficit in the country increased by 89 percent compared to the same period of the previous year and reached 735.7 billion dollars. The deficit was at the level of 389.2 billion dollars in the same period of the previous year.
Expenditures in the first 4 months of the fiscal year increased by 23 percent to 1.9 trillion dollars compared to the same period last year, while revenues increased by 0.9 percent to 1.2 trillion dollars.
The US budget deficit reached a record level of $ 3.1 trillion in the 2020 fiscal year with the impact of the new type of coronavirus (Kovid-19) epidemic.
Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.
*The article has been translated based on the content of bigpara- GÜNDEM by bigpara.hurriyet.com.tr. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!