US budget posted a $176 billion surplus in April

The US federal government's budget surplus fell short of expectations at $176 billion in April. The US Treasury Department released its budget balance report for April. Accordingly, the federal government's budget surplus was calculated as $176 billion in the seventh month of the 2023 fiscal year, which started on October 1, 2022 and will end on September 30, 2023. The federal government had a budget surplus of $308 billion in the same month of the previous year. Thus, there was a 43 percent decrease in the budget surplus compared to the same month of the previous year. During this period, market expectations for the budget balance were for a surplus of $235 billion. While the government's revenues decreased by approximately 26 percent in April compared to the same month of the previous year, falling to $639 billion, its expenditures decreased by 17 percent to $462 billion. The country's total budget deficit as of April, the 7th month of the 2023 fiscal year, increased by approximately 157 percent compared to the same period last year, reaching $925 billion. The deficit was $360 billion in the same period last year. Expenditures in the first 7 months of the fiscal year increased by 8 percent compared to the same period last year, reaching $3 trillion 611 billion, while revenues decreased by 10 percent to $2 trillion 687 billion.