London, Wednesday, 11 May 2022
In April 2022, the United States reported a budget surplus of USD 308 billion, the biggest on record, up from a USD 226 billion deficit the previous year and exceeding market estimates of a USD 226 billion surplus.
Except in 2009, 2010, and 2011 following the financial crisis, and in 2020 and 2021 due to the Covid-19 outbreak, April has typically been a budget surplus month because to the regular April 15 tax filing deadline.
Tax collections boosted receipts by 97 percent to an all-time high of USD 864 billion, bolstered by a solid economic rebound.
At the same period, outlays fell 16 percent to USD 555 billion, owing to decreased COVID-19 relief spending. The US government deficit for the first seven months of fiscal 2022 was USD 360 billion, down 81 percent from the same period in fiscal 2021.
(Source: Financial Management Service, US Treasury // Edited by: The Decision Maker)
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