12:47 - 23.10.2023

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October 23, Fineko/abc.az. Following fiscal year 2023, the U.S. state budget deficit increased by $320 billion (23%) compared with the previous fiscal year.

ABC.AZ reports with reference to the U.S. Treasury Department that country's state budget deficit amounted to $1.695 trillion.

In 2022, the negative balance of the U.S. budget totaled $1.375 trillion.

Budget revenues in 2023 decreased by 9% to $4.439 trillion. Personal income tax receipts fell by 17%, amounting to $2.176 trillion.

U.S. budget expenditures declined by 2% to $6.134 trillion. Interest payments on government bonds grew by 23% up to $879.3 billion.

In September, the budget deficit was $171 billion against $430 billion a year earlier. Budget revenues totaled $467 billion and expenses - $638 billion.

The Treasury Department informs that the U.S. budget deficit was fixed only twice than in 2023 - in covid 2020 and 2021.

With surplus, the U.S. budget was last reduced in 2001.