The U.S. government ran a $209 billion budget deficit in March as outlays grew and receipts fell, the Treasury Department said on Wednesday, APA reports quoting Reuters.
That compared with a budget deficit of $176 billion in the same month last year, according to Treasury’s monthly budget statement, APA reports quoting Reuters.
Economists polled by Reuters had forecast the Treasury recording a $194 billion shortfall last month.
When accounting for calendar adjustments, the deficit last month was $165 billion compared with an adjusted deficit of $134 billion in the same month in the prior year.
The deficit for the fiscal year, which began in October, was $600 billion, compared to a deficit of $527 billion in the same period of fiscal 2017.
Unadjusted receipts last month totaled $211 billion, down 3 percent from March 2017, while unadjusted outlays grew to $420 billion, up 7 percent from the same month a year earlier.