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U.S. Posts $53 Billion Budget Deficit in May - ASHARQ AL-AWSAT English Archive
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The U.S. government posted a $53 billion budget deficit in May, a 38 percent drop from the same month last year, the Treasury Department said on Friday. The government had a deficit of $84 billion in May of 2015, according to the Treasury’s monthly budget statement.

Analysts polled by Reuters had expected a $60 billion deficit for last month. However, when accounting for calendar adjustments, May would have shown a $102 billion deficit compared with an adjusted $84 billion deficit a year prior.

The current fiscal year-to-date deficit was $407 billion, up 11 percent from a $367 billion deficit at this time last year.On an adjusted basis, the fiscal year-to-date gap was $413 billion compared with $367 billion at this time last year.

Receipts last month totaled $225 billion, a 6 percent increase from May 2015, while outlays stood at $277 billion, a 7 percent decline from the same month a year ago.

Asharq Al-Awsat English

Asharq Al-Awsat English

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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