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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