Doubling of the US Budget Deficit Observed

The US budget deficit in March last year amounted to 378.076 billion dollars, while the figure has approximately doubled compared to the same month last year (192.634 billion dollars).

US Treasury data showed budget revenues fell 0.6% to $313.24 billion, while spending rose 36% to $691.317 billion.

In the first six months of fiscal year 2023, which began on October 1, 2022, the US budget deficit increased 1.7 times (up 65%) compared to the same period a year earlier, to $1.1 trillion.

Since the beginning of the current fiscal year, budget revenues have declined by 3.5% to $2.048 trillion, while expenditures have grown by 13% to $3.149 trillion.

The data also showed that interest payments on government debt rose 32% to $384 billion on the back of an increase in the main interest rate.

Source: Interfax

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