According to the results of the fiscal year 2024, which ended on 30 September, the deficit of the national budget of the United States of America reached 1 trillion 832.8 billion dollars, which is 8.1% more than in the previous year, namely $ 137.6 billion. This was reported by the US Department of the Treasury.
The U.S. budget deficit became the third largest in history, second only to the first two years of the COVID-19 pandemic. Last fiscal year, revenues rose 10.8 per cent to $4 trillion 918.7 billion.
At the same time, spending increased 10.1 per cent to $6,751.55 billion. Specifically, interest payments on the national debt increased 29% to a record $1.133 trillion.
Spending also increased in Medicare, up 4% to US$1.05 trillion, Social Security, up 7% to US$1.52 trillion, and military programmes, up 6% to US$826 billion.
In FY 2024, the U.S. budget deficit is 6.4% of GDP, up 0.2% from the previous year.
A surplus of $64.263 billion was recorded in September, while last year a deficit of $170.715 billion was recorded in the same month.
Revenues increased by 12.9 per cent to $527.62 billion. Expenditures, on the other hand, decreased by 27.4 per cent to $463.357 billion. This was due to the fact that some payments were postponed to August, as 1 September this year fell on a non-working day.
Earlier, the Financial Times reported that Washington was ready to provide Kiev with up to 20 billion dollars as part of the G7 loan with repayment from the profits made from frozen Russian assets.
