US budget deficit has grown a hundred times

The US federal budget deficit over the past month approached the level of the entire previous year. This is evidenced by the data of the US Congressional Department of Budget Management, reports TASS.

In June, the figure reached $ 863 billion, which is a hundred times more than in the same period last year, when the deficit was $ 8 billion.

At the same time, the lack of funds in the federal budget of the country for the entire 2019 fiscal year, which ended in September, amounted to $ 984 billion. As noted in the document, such a high rate is associated with the economic crisis and the coronavirus pandemic and, as a result, with the measures that the government is taking against the backdrop of specific events.

According to the agency, in the first nine months of this year, the deficit increased by $ 2 trillion compared to last year and amounted to $ 2.7 trillion. Also, the amount of funds that go to the federal budget decreased by 13 percent compared to last year. In turn, expenses increased by 50 percent.

Since the onset of the coronavirus pandemic, US authorities spent $ 3 trillion on economic growth. In addition, as the head of the White House’s staff, Mark Meadows, said, additional packages of measures to stimulate economic growth will soon be taken. In June, the Congressional Budget Office estimated that the deficit for the year would go up to four trillion dollars.

Earlier in Russia, budget losses due to the coronavirus pandemic were calculated. According to Deputy Minister of Finance Vladimir Kolychev, the treasury has missed more than one trillion rubles