Washington-SANA
The US Congress announced that the country's budget deficit increased by 198 billion dollars last August, to reach three trillion dollars in the first 11 months of the 2020 fiscal year that began on October 1, 2019.
And TASS reported that the Congressional Budget Office issued a report indicating that the total federal budget deficit reached 3 trillion dollars, an increase of 1.9 trillion dollars over the deficit recorded in the same period last year.
The office expected that the budget deficit would reach 3.3 trillion dollars by the end of the current fiscal year. Thus, the current deficit in the US budget will be "the largest since 1945", equivalent to 16.0 percent of GDP.