WASHINGTON (Sputnik) – The US budget deficit stands at $1.93 trillion in the first seven months of fiscal 2021, after growing by $226 billion in April, the Treasury Department said in its monthly balance sheet reported on Wednesday.
Outlays for October to April amounted to $4.075 trillion while receipts totaled $2.143 trillion, resulting in the $1.93 trillion deficit, according to the balance sheet.
Despite being only seven months into fiscal 2021, the US budget deficit was almost two-thirds of 2020 levels due to huge coronavirus relief spending in the period. A $900 billion COVID-19 bill was passed under the Trump administration in November while an additional relief of $1.9 trillion was approved under the Biden administration in March.
The US government’s fiscal year began in October.
Sourse: sputniknews.com
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