united states budget deficit

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

Consequently, in July of fiscal year 2023, which began on October 1, 2022 and ends on September 30, 2023, the federal government’s budget deficit was estimated at $221 billion.

The federal government had a budget deficit of $211 billion in the same month last year. Thus, the budget deficit increased by approximately 5 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 deficit of 109.3 billion dollars.

Government revenue increased 3 percent to $276 billion in July compared with the same month a year earlier, while spending rose 3 percent to $497 billion.

As of July, month 10 of fiscal year 2023, the country’s budget deficit amounted to 1 trillion 613 billion dollars with an increase of approximately 122 percent compared to the same period of the previous year. Said deficit was realized at the level of 726 billion dollars in the same period last year.

While expenses in the first 10 months of the fiscal year increased 10 percent compared to the same period a year earlier and reached $5.302 billion, revenues decreased 10 percent to $3.689 billion. . (AA)