US budget deficit dropped to $22 billion in January – Kommersant

US budget deficit dropped to $22 billion in January – Kommersant

The US budget deficit in January 2024 decreased to $21.93 billion from $129 billion in December, according to the monthly report of the US Treasury Department (.pdf). Last January, the US budget recorded a deficit of more than $38 billion.

According to the department's report, US government spending in January increased by 2.7% in annual terms, amounting to $499.25 billion. The most in January was spent on social security - $121 billion. $60 billion was allocated for defense needs.

Revenues increased by 6.7% - to $477.32 billion. The main source of income was income tax - in January, the budget received $283 billion from this item. Taxes on corporate profits brought in $20 billion.

On February 11, during a speech at the World Government Summit in Dubai, the head of the International Monetary Fund (IMF) Kristalina Georgieva statedthat the global economy has proven to be “surprisingly resilient.” According to her, medium-term growth prospects for the global economy “remain modest” - up to 3% per year.

Read more about the prognosis of ARZS in the material “The reasons for global slowdown are being selected”.

Alexandra Goroshilova

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