The US Treasury Department announced that the budget deficit exceeded more than three trillion dollars in the first 11 months of the fiscal year 2020, due to the Coronavirus pandemic, which is more than Double the previous record for an entire year.
According to Reuters, the budget deficit for August was $ 200 billion, not far from the deficit in August 2019, and less than the $ 245 billion forecast by analysts in a poll Reuters opinion.
The deficit of $ 3.007 trillion since the beginning of the year is almost three times the deficit of $ 1.067 trillion in the same period a year ago, and it is the result of a massive increase in government spending to counter the repercussions. Coronavirus pandemic economic.
The previous record for deficit in an 11-month period was $ 1.37 trillion, announced by the Treasury in 2009 during the financial crisis and recession. The total budget deficit for the entire 2009 was $ 1.4 trillion.
fiscal year ends on September 30th.
(Amazon fun knowledge)
