The US Treasury Department published the budget balance report for March.
Accordingly, in the 6th month of the 2024 fiscal year, which started on October 1, 2023 and will end on September 30, the federal government’s budget deficit was calculated at 236 billion dollars.
The federal government had a budget deficit of 378 billion dollars in March last year. Thus, the budget deficit fell 38 percent in March compared to the same period last year. Market expectations for the budget balance in this period were for a deficit of 209.4 billion dollars.
The government’s revenues increased by 6 percent to $332 billion in March, while its expenditures decreased by 18 percent to $569 billion.
3 percent decrease in 6-month budget deficit
The total budget deficit in the country as of March, the 6th month of the 2024 fiscal year, decreased by 3 percent compared to the same period last year and amounted to 1 trillion 65 billion dollars.
The said deficit was realized as 1 trillion 101 billion dollars in the same period of last year.
Expenditures in the first 6 months of the fiscal year increased by 3 percent compared to the same period last year, reaching 3 trillion 253 billion dollars, while revenues increased by 7 percent to 2 trillion 188 billion dollars.
The US budget deficit increased by 23 percent in fiscal year 2023 compared to the previous year, rising to 1.7 trillion dollars.
