In the completed 2023 fiscal year, the budget deficit of the United States increased by 320 billion dollars, to 1.7 trillion. This is stated in a joint statement by US Treasury Secretary Janet Yellen and the head of the White House Office of Management and Budget, Shalanda Young.
In fiscal year 2023, which ended on 30 September, US budget expenditures exceeded $6.1 trillion, while revenues exceeded $4.4 trillion. Thus, the budget deficit increased by $320 billion compared to data for fiscal year 2022 and amounts to about $1.7 trillion, which corresponds to 6.3% of US GDP.
The budget deficit in the completed fiscal year turned out to be $31bn lower than the figures that the US authorities had forecast at the end of the last fiscal year. In fiscal year 2022, the budget deficit was $1.37 trillion and corresponded to 5.4% of GDP.
Earlier, Russian President Vladimir Putin criticised the attempts of the European Union countries to completely abandon Russian energy carriers, while the entire Western economy is at “ground zero”.