The US budget gave a surplus of 176 billion dollars

The United States Department of the Treasury released its budget balance report for April.

Consequently, in the seventh month of fiscal year 2023, which began on October 1, 2022 and ends on September 30, 2023, the federal government’s budget surplus was estimated at $176 billion.

The federal government ran a budget surplus of $308 billion in the same month last year. Thus, the budget surplus decreased by 43 percent compared to the same month of the previous year. In this period, the market expectation regarding the budget balance was that the budget would have a surplus of 235 billion dollars.

While government revenues decreased by about 26 percent compared to the same month a year earlier and fell to $639 billion, its spending fell by 17 percent to $462 billion.

As of April, month 7 of fiscal year 2023, the country’s total budget deficit amounted to 925 billion dollars with an increase of approximately 157 percent compared to the same period of the previous year. Said deficit was at the level of 360 billion dollars in the same period last year.

Expenses in the first 7 months of the fiscal year increased 8 percent compared to the same period a year earlier and reached $3.611 billion, while revenues decreased 10 percent to $2.687 billion. . (AA)