In January 2015, the U.S. budget deficit receded to $17.5 bln. However, a year earlier the index declined to $10.3 bln, stated in the report of the U.S. Treasury.
As a result, for the period from October 2014 to January 2015 the growth of the U.S. budget deficit exceeded 6%, reaching $194.2 billion. Last year this figure was $182.8 billion.
In addition, due to higher tax payments, the U.S. budget revenue increased by 3.6% and reached $306.7 billion for the last month. However, expenses during the reporting period were increased by 5.9% to $324.3 billion.
During the past fiscal year, budget deficit in the United States fell almost by 29% to $483.4 billion, which equals 2.8% of GDP.
According to congressional records, in the current fiscal year, the U.S. budget deficit will be reduced to $468 bln or to the level of 2.6% of U.S. GDP.
In 2009, the U.S. budget deficit for the first time in the history peaked at $1 trillion 410 billion, equivalent to 9.8% of GDP.
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