US budget deficit fell by 30% in February

The United States Treasury reported on the execution of the state budget in February. Its deficit fell to $216.6 billion, down 30% from a year ago, according to published data. Tax revenues to the budget increased by 16.9% in annual terms. Total revenue rose in February to $289.9 billion, or 16.7%. US government spending fell 9.4% last month to $506.5 billion. According to the results of 5 months of the current fiscal year, the US state budget deficit fell by 55% in annual terms. It amounted to 475.6 billion dollars. Such a low value of the indicator has not been observed in the country over the past 4 years. Total revenue increased over this period by 25.8% to $1.8 trillion. At the same time, budget spending fell to $2.3 trillion, or 8.1%. Significant cost reductions are due to the curtailment of support programs that were launched during the pandemic.

Source: xCritical.com