The US Treasury Department reported a decrease in the federal government’s budget deficit in December 2024, compared to the same month last year. The deficit stood at $87 billion, a 33% reduction from the previous year’s figure.
For the third month of the fiscal year 2025, which began on October 1, 2024 and will end on September 30, 2025, the budget deficit was calculated. This is compared to a deficit of $129 billion in December 2023.
Market expectations for this period were for a deficit of $80 billion. However, the government’s revenues increased by 6% to $454 billion, while its expenditures decreased by 3% to $541 billion.
The total budget deficit as of December rose by 39% compared to the same period last year and reached $711 billion. This is an increase from the previous year’s figure of $510 billion.
In the first three months of the fiscal year, expenditures increased by 11% to $1.8 trillion, while revenues decreased by about 2%. The overall deficit for the 2024 fiscal year was $1.8 trillion, making it the third largest budget deficit in US history.
Source: https://www.aa.com.tr/en/economy/us-budget-runs-87b-deficit-in-december/3450387