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MNI BRIEF: US Budget Deficit Narrows to USD668B Through March

(MNI) WASHINGTON

The U.S. Treasury Department rang up a USD668 billion budget deficit in the first half of the fiscal year, down by over a trillion dollars relative to the same point in the previous fiscal year, the Treasury Department reported Tuesday.

The Treasury said the federal deficit hit USD193 billion in March, down nearly USD500 billion compared to the year-ago month. Compared to fiscal year 2021, year-to-date revenue is up 25% while spending is down 18%. The U.S. ended fiscal year 2021 with a USD2.8 trillion deficit.

MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com
MNI Washington Bureau | +1 202-371-2121 | evan.ryser@marketnews.com

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