The US government on Monday posted a $171 billion budget deficit for August, 15% lower than the $200 billion gap a year ago, the Treasury Department said, Report informs, with reference to Reuters.
Receipts in August rose 20% from the year-earlier period to $268 billion, while outlays in the month were up 4% to $439 billion. Some $59 billion in August benefits were paid in July because the month started on a non-business day.
For the first 11 months of the 2021 fiscal year, the deficit totaled $2.711 trillion, down 10% from the $3.007 trillion for the same period last year, as revenues improved.
Year-to-date receipts rose 18% from the same period last year to $3.586 trillion, while outlays rose 4% to $6.297 trillion.