According to the data released by the U.S. Treasury Department, the federal government recorded its highest deficit in six years with $779 billion in the fiscal year 2018 as tax cuts continued to hurt the revenues. Below are key takeaways from the official publication as reported by Reuters.
- U.S. September budget surplus $119 bln (consensus $107.5 bln surplus) vs Sept 2017 surplus $8 bln.
- U.S. September budget outlays $224 bln vs $341 bln in September 2017; receipts $344 bln vs $349 bln in September 2017.
- U.S. fiscal 2018 deficit $779 bln, largest since 2012, vs comparable fiscal 2017 $666 bln deficit.
- U.S. fiscal 2018 budget outlays $4.11 trln vs $3.98 trln in fiscal 2017; receipts $3.33 trln vs $3.32 trln in fiscal 2017.
- U.S. fiscal 2018 budget deficit 3.9 pct of GDP compared with 3.5 pct in fiscal 2017.
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