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U.S. budget deficit rises to 57.6 bln USD in May

U.S. budget deficit rises to 57.6 bln USD in May

13 June 2011 10:34 (UTC +04:00)

Baku - APA-Economics. The U.S. federal government’s budget deficit increased 42.7 percent to 57.6 billion dollars in May over the previous month, pushing the imbalance in the first eight months of this fiscal year close to 1 trillion dollars, reported the Treasury Department on Friday.

The 57.6 billion dollars fiscal red ink in May was higher than the 40.4 billion dollars in April, but was better than the 135.9 billion dollars in May 2010, said the department.

In the first eight months of fiscal year 2011, which began in October 2010, federal deficit totaled 927.4 billion dollars. That is slightly lower than last year’s pace, when the deficit recorded at 1.29 trillion dollars.

Last month, the U.S. federal government received 174.9 billion dollars, but spent 232.6 billion dollars.

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