The US Treasury announced on Monday that the US government recorded a budget deficit of $244 billion in July, an increase of 10 percent over the same month of the previous year.
The Ministry added that the deficit last month rose by $23 billion from a deficit of $221 billion in July 2023.
A Treasury official said that interest on the debt rose 21 percent to $89 billion last month, and the average interest rate rose by about 49 basis points to 3.33 percent.
In the first ten months of fiscal year 2024, the deficit in the United States decreased by 6 percent to $1.517 trillion compared to $1.614 trillion in the same period of fiscal year 2023. |