United States Government Budget Value

The US government budget deficit shrank to USD 236 billion in March 2024, from the USD 378 billion gap recorded in the corresponding month of the previous year and the same month last year, nearly aligning with market expectations of a $296 billion deficit. This marks the seventh consecutive month of budget deficits, largely driven by high interest rates resulting in substantial net interest payments by the government. Government receipts rose by 6% to $332 billion, while spending decreased by 18% to $569 billion. For the first six months of the fiscal year, the US budget deficit surpassed $1 trillion, partly due to interest on the public debt.