Dilara Zengin Okay
14 January 2025•Update: 14 January 2025
WASHINGTON
The US federal government's budget deficit decreased by 33% in December 2024 compared to the same month of the previous year, the US Treasury Department published on Tuesday.
The federal government's budget deficit was calculated at $87 billion in the third month of the 2025 fiscal year, which started on October 1, 2024 and will end on September 30, 2025.
The federal government had a budget deficit of $129 billion in December 2023.
Market expectations for the budget balance in this period were for a deficit of $80 billion.
The government's revenues increased by 6% to $454 billion in December 2024, while its expenditures decreased by 3% to $541 billion.
As of December, the total budget deficit in the country increased by 39% compared to the same period of the previous year and rose to $711 billion.
The deficit was realized at $510 billion in the same period of the previous year.
Expenditures in the first three months of the fiscal year increased by 11% compared to the same period of the previous year to $1.8 trillion, while revenues decreased by about 2% to $1.1 trillion dollars.
The US budget deficit increased by 8% in the 2024 fiscal year compared to the previous year, rising to $1.8 trillion.
The federal government's budget deficit in the 2024 fiscal year was the third largest budget deficit in the country's history.
*Writing by Gokhan Ergocun from Istanbul
