The US budget deficit has increased by $320bn
Economy
In 2023, the US budget deficit will increase by 320 billion dollars, reaching 1.7 trillion dollars. This is stated in a joint statement of U.S. Treasury Secretary Janet Yellen and the head of the White House Office of Administration and Budget Shalanda Young.
It is noted that in fiscal year 2023, which ended on 30 September, the US budget expenditures amounted to 6.1 trillion dollars, and revenues - more than 4.4 trillion dollars.
Thus, the budget deficit increased by 320 billion dollars compared to the data of fiscal year 2022 and amounted to almost 1.7 trillion dollars. This corresponds to 6.3 per cent of US GDP.
It was reported that the budget deficit in fiscal year 2022 was $1.37 trillion, which corresponds to 5.4% of GDP.
Thus, the budget deficit increased by 320 billion dollars compared to the data of fiscal year 2022 and amounted to almost 1.7 trillion dollars. This corresponds to 6.3 per cent of US GDP.
It was reported that the budget deficit in fiscal year 2022 was $1.37 trillion, which corresponds to 5.4% of GDP.
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