The fiscal year in America ended with a fiscal deficit amounting to $1.7 trillion
- The US Treasury Department announced on Friday, October 20, 2023, that the government ended its fiscal year in September with a deficit approaching $1.7 trillion.
- This is based on what was stated in the joint statement between US Secretary of the Treasury Janet Yellen and Director of the Office of Management and Budget at the White House, Shalanda Young.
- According to the statement: “In the fiscal year 2023, which ended on September 30, US budget expenditures exceeded $6.1 trillion, while revenues amounted to more than $4.4 trillion.”
- The statement also described: The increase in the budget deficit compared to the data for the fiscal year 2022 is estimated at $320 billion, and amounts to about $1.7 trillion, equivalent to 6.3% of the United States’ gross domestic product.
