Washington-Sana
The US Treasury announced that it will borrow in the second quarter of this year an amount of approximately $ 3 trillion through treasury bonds, as it aims primarily to finance a plan to revive the US economy, which was severely affected by the Corona pandemic, "Covid 19".
Reuters quoted the ministry as saying in a statement yesterday that during the three months from April to the end of June, the amount of borrowing will reach $ 2.999 trillion, which is more than five times the previous record level for the quarterly borrowing recorded in the second half of 2008 during the global financial crisis as it is considered higher than the record level. Previous to borrow for a full fiscal year of $ 1.8 trillion registered in 2009.
The ministry pointed out that this increase in the amount "is mainly due to the repercussions of the Covid 19 epidemic, including the expenses of the new law to assist families and companies."
"This is bigger than we usually do in a year," said a senior ministry official.
The Treasury expected to have to borrow 677 billion dollars in the three months from July to the end of September and was borrowing 477 billion dollars through credit markets in the three months from January to the end of March.
