Stock market quotes, forex, financial news, forex tools – money-investing.com

The US budget deficit has grown by almost 40% since the beginning of the fiscal year

 Breaking News
  • US Ministry of Energy predicts reduction of oil prices The US Ministry of Energy has published a monthly report, which turned out to be discouraging. It is expected that in the last quarter of this year the price for...
  • 28 Chinese companies are blacklisted by the US Everyone knows that just in few days two powerful states China and the USA – are starting the next round of the negotiations. Official Beijing has announced that it is...
  • Startup WeWork again in spotlight We have been writing about the startup WeWork, which was forced to postpone the initial public offering. They earn by renting commercial space for a long time in order to...
  • Massive cuts in HSBC HSBC Holdings Plc, the largest bank in Europe and one of the most significant and serious players in the global financial market, has announced the launch of a cost-optimization program....
  • Oil quotes still wait for negotiations Today, at 8.15 a.m. Moscow time, futures for Brent crude oil were trading in London for $ 58.31 per barrel. This is only 0.1% below the closing price of the...
The US budget deficit has grown by almost 40% since the beginning of the fiscal year
May 13
13:00 2019

According to the US Treasury, the budget surplus has fallen by 25% compared to the last year. In April 2018, it was equal to $ 214.2 billion, and in this April, the value of this indicator was $ 160.3 billion.

Compared to April last year, budget revenues have increased by almost 5% to $ 535.5 billion. Tax income from individuals has increased by 10%, from organizations – by 6%, customs fees have grown by almost 60%.

There is also a strong increase in costs. In 2018, this figure was 296.2 billion US dollars. This year, the value of this indicator has grown by 27% to $ 375.5 billion.

Since 2019 fiscal year, the budget deficit has increased by 38% to 530.8 billion US dollars. For comparison, over the first seven months of the last fiscal year, the deficit totaled $ 385.4 billion.

The amount of funds coming into the budget since the start of the fiscal year has increased to $ 2.04 trillion, i.e. by almost 2%. Tax revenues from individuals have grown by 2.5%. Customs fees have almost doubled to $ 40 billion. The reason is simple – increased import duties. Revenues from corporate taxes have fallen by almost 7% to $ 112.7 billion.

The growing deficit is in some way connected with the change in the dates of individual payments and income. Because of this, its increase was relatively small and amounted to 23%.

According to the Congress’s forecast in the current fiscal year, the budget deficit will amount to 897 billion US dollars or 4.2% of GDP.

The last budget surplus was recorded in 2001. And in 2009 there was a record large deficit – 1.41 trillion US dollars or 9.8% of GDP.

 

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment