US faces a $1.8T deficit in fiscal year 2025
The US budget deficit decreased to $1.77 trillion in fiscal year 2025, marking a 2% reduction compared to the previous year, according to an announcement from the Treasury Department on Thursday.
The budget deficit was recorded at $1.82 trillion in fiscal year 2024, News.Az reports citing foreign media.
The government's revenues in fiscal year 2025 increased 6% compared to the previous period, reaching $5.23 trillion, while expenditures rose 4% during the same period, to $7.01 trillion.
In September, the final month of the fiscal year, the government posted a budget surplus of $198 billion.
Government revenues rose 3% in September compared to the same month last year to $544 billion, while spending fell 23% to $346 billion.
Customs duty revenues, which reached record levels during, contributed to the reduction in the deficit. Revenues from customs duties in fiscal year 2025 increased 153% to $195 billion.
The US fiscal year begins in October and ends in September.
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