US February Budget Gap Highest since 2012


The US government budget deficit widened to USD 215 billion in February of 2018 from USD 192 billion in the same month of the previous year, compared to market expectations of USD 216 billion. It is the biggest gap for a February month since 2012 as receipts declined 9.4 percent year-on-year to USD 155.6 billion while outlays increased 1.9 percent to USD 370.9 billion.

In February, receipts declined 9.4 percent year-on-year to USD 155.6 billion as social security taxes accounted for USD 91 billion; individual income taxes for USD 45 billion; other taxes and duties for USD 21 billion; and corporate tax income for USD -2 billion.

Meanwhile, outlays rose 1.9 percent to USD 370.9 billion as other expenses accounted for USD 169 billion; social security for USD 82 billion; defense for USD 49 billion; Medicare for USD 48 billion; and interest on debt for USD 23 billion.

Considering the first five months of the current fiscal year, the deficit went up to USD 391 billion from USD 351 billion a year earlier.

 US February Budget Gap Highest since 2012


US Treasury | Joana Taborda | joana.taborda@tradingeconomics.com
3/12/2018 6:16:04 PM