US federal government's budget deficit drops 33 percent in December

1/15/2025 2:30:38 AM

(MENAFN) On Tuesday, the US Treasury Department reported that the US federal government's budget deficit dropped by 33 percent in December 2024 in comparison to the same month of the prior year.

In the third month of the 2025 fiscal year, which began on October 1, 2024 and will conclude on September 30, 2025, the federal government's budget deficit was estimated at USD87 billion.

However, the federal government reported a budget deficit of USD129 billion in December 2023. Market estimates for the budget balance in this time were for a deficit of USD80 billion.

In December 2024, revenues of the government rose by 6 percent to reach USD454 billion, meanwhile its expenditures fell by 3 percent to USD541 billion.

At the end of December, the overall budget deficit in the nation surged by 39 percent when compared to the same time in the year before and increased to USD711 billion.

The deficit was recorded at USD510 billion during the comparable period of the prior year.

Expenditures in the initial three months of the fiscal year rose by 11 percent in comparison to the equivalent period of the previous year to USD1.8 trillion, whereas revenues dropped by approximately 2 percent to USD1.1 trillion dollars.

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