The US Treasury plans to borrow $ 947 billion in the third quarter of the year, to reduce the impact of the Corona Virus pandemic on the economy.

According to CNBC Arabia, Congress has already allocated nearly $ 3 trillion to date for aid related to the Corona virus.

Republicans and Democrats are currently in dispute over a new aid package linked to the Corona Virus, after passing a deadline to extend aid to tens of millions of unemployed Americans.

The Treasury Department said in a statement that its estimates assume the need for an additional $ 1 trillion in borrowing in anticipation of passing new legislation in response to the Covid-19 outbreak.

Senior officials at the Treasury Department told reporters that the estimates are preliminary given the ambiguity with regard to the size of any future package.

The US Treasury borrowed $ 2.753 trillion through debt markets in the period from April to June, which exceeds any other quarter and exceeds the highest level of borrowing For a full fiscal year previously recorded at $ 1.8 trillion in 2009. It ended the period and still has liquidity of $ 1.722 trillion.

(Fun Knowledge of Knowledge)