US budget posted $89 billion surplus in August

The US federal government posted a budget surplus of $89 billion in August, contrary to expectations for a deficit. The US Treasury Department released its budget balance report for August. Accordingly, the federal government's budget surplus was calculated as $89 billion in August of the 2023 fiscal year, which started on October 1, 2022 and will end on September 30, 2023. The federal government posted a budget deficit of $220 billion in the same month of the previous year. Thus, the budget balance increased by $309 billion compared to the same month of the previous year. During this period, the market expectation for the budget balance was for the budget to post a deficit of $240 billion. While the government's revenues decreased by 7 percent in August compared to the same month of the previous year, falling to $283 billion, its expenditures also decreased by 63 percent to $194 billion. As of August, the 11th month of the 2023 fiscal year, the budget deficit in the country increased by approximately 61 percent compared to the same period of the previous year, reaching $1 trillion 524 billion. The deficit was $946 billion in the same period last year. Expenditures in the first 11 months of the fiscal year increased by 3 percent compared to the same period last year, reaching $5.4 trillion, while revenues decreased by 10 percent, falling to $3.9 trillion.