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U.S. federal government reports budget surplus of 113 bln USD in April

11 May 2013 03:45 (UTC +04:00)

Baku-APA. The U.S. federal government registered a budget surplus of about 112.9 billion U.S. dollars in April, the biggest monthly surplus in five years, the U.S. Treasury Department reported on Friday, APA reports quoting Xinhua.

The federal government raked in a revenue of 406.7 billion dollars, 28 percent higher than the same month a year ago. It registered outlays of 293.8 billion dollars last month, up 13.1 percent from the year ago level, said the department.

There is usually a budget surplus in April when many Americans file their tax returns. Boosted by record revenues, this year's figure was much higher than the 59.12 billion a year earlier.

The combined budget deficit in the first seven months of the 2013 fiscal year starting in October 2012 totaled 487.6 billion dollars, 32 percent lower than the imbalance for the same period of last fiscal year.

Federal outlays so far this fiscal year fell slightly to 2.091 trillion dollars from 2.103 trillion dollars a year earlier. Revenues rose to 1.603 trillion dollars, higher than the 1.383 trillion dollars collected over the same period last year.

The Congressional Budget Office (CBO), a non-partisan budgetary and economic research agency for the U.S. Congress, predicted that the federal government would run a budget deficit of about 845 billion dollars for 2013 fiscal year which ends on Sept. 30. That would be the first annual deficit below the 1-trillion-dollar mark since 2008.