Washington-Sana
The United States today recorded a record budget deficit in April of $ 738 billion due to shrinking revenue, amid an outbreak of the emerging Corona Virus pandemic.
Reuters quoted the US Treasury as saying that the budget deficit last month was the first to reflect the huge government spending approved by Congress to alleviate the economic consequences of the crisis caused by the outbreak of the Corona virus.
The ministry pointed out that total revenue in April amounted to 242 billion dollars, a decrease of 55 percent from the same month last year, while expenditures jumped 161 percent to 980 billion dollars.
The deficit ballooned in the first seven months of the current fiscal year to $ 1.48 trillion, compared to $ 531 billion in the same period in 2019.
The fiscal year in the United States begins on October 1.
