Tuesday, February 12, 2013

United States: unexpected surplus in January

United States: unexpected surplus in January

The United States in January reached their first budget surplus since September, according to figures released by the Treasury Department on Tuesday 12 February. The surplus was $ 2.8 billion, while the median forecast of analysts expected a deficit of $ 2 billion. It is the largest surplus for the month of January last five years, the ministry said. By comparison, the federal government in January 2012 showed a deficit of $ 27.4 billion. This surplus comes after a slight deficit of $ 1.1 billion in December.

In January, state revenues jumped 16.1% year on year to reach 272.2 billion dollars, while expenditures also increased but at a much less intense (2.9%) for reaching 269.3 billion. Since the beginning of the fiscal year in October, the budget deficit of the federal government has shrunk 17% YoY to stand at 290.4 billion dollars.

The United States has reduced its budget deficit to 7% of GDP in 2011-2012, 8.7% against the previous year, at the end of a fiscal effort unprecedented twenty-five years. For the full fiscal year, the White House plans to shrink the federal government deficit below 1 000 billion for the first time in five years, to 991 billion, or 6 1% of U.S. GDP. In the absence of agreement in Congress to pass the Finance Bill, the federal government currently operates through an act of renewal of current budgets.

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