The government's budget balance posted a surplus of $ 182 billion in April, up from $ 106 billion in the same month in 2016, the Treasury Department reported on Thursday.

The government’s budget balance posted a surplus of $ 182 billion in April, up from $ 106 billion in the same month in 2016, the Treasury Department reported on Thursday.

Revenue grew 4% to $ 456 billion last month, while spending declined 18% to $ 273 billion.

April is a month of traditional surplus because it is when the annual tax returns are processed.

In the first seven months of fiscal year 2017, which began in October, the accumulated deficit is $ 344 billion, down 2.4% from $ 353 billion in the same period last fiscal year.

The US budget deficit increased in fiscal year 2016 to $ 590 billion, which represents 3.2% of GDP, up from 2.5% in the previous year and in what was the first rise since 2009 .

The United States had been steadily reducing its budget deficit since 2009, when driven by the financial crisis soared to $ 1.4 trillion.

However, the Congressional Budget Office (CBO) projects that, from now on, the deficit will again grow steadily to reach 1 trillion dollars again in 2022, due to the increase in costs associated with Social Security In line with the aging of the population.

Leave a Reply