US budget surplus exceeded $118 billion in January

In January, the US state budget was executed with a surplus. It amounted to 118.7 bln. dollars. A month earlier, a budget deficit of $162.8 bln. was recorded. The end of the month with a budget surplus was previously observed only in pre-pandemic September in 2019. According to the US Treasury Department, the national budget revenue increased last month to $465.1 billion, or 20.9% in annual terms. The growth in revenues was mainly due to an increase in the amount of taxes transferred to the individuals’ income. US budget spending fell in January to $346.4 billion, or 36.7% compared to the same month last year. According to the results of four months of the current fiscal year, the US government budget deficit decreased by almost 65% in annual terms. It amounted to 259 billion dollars. During this period, the budget received funds for $1.5 trillion, which is 27.7% more than in 2021. Expenditures from the budget decreased over 4 months to 1.8 trillion dollars, or by 7.7%.

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Arseny Kudrin

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