The United States on Tuesday reported a record USD 738 billion budget deficit in April of 2020, compared to a USD 160 billion surplus in the corresponding period of the previous year but lower than market expectations of a USD 747.50 billion gap. An explosion in government spending and a shrinking of revenues amid the novel coronavirus pandemic put it deeply into the red. Outlays jumped 161 percent to USD 980 billion, with income security accounting for the biggest share, followed by medicare and general government. Meantime, receipts dropped 55 percent to USD 242 billion with social insurance and retirement accounting for the largest share.
Government Budget Value in the United States averaged -20326.35 USD Million from 1954 until 2020, reaching an all time high of 214255 USD Million in April of 2018 and a record low of -737851 USD Million in April of 2020. This page provides - United States Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news. United States Government Budget - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Financial Management Service, US Treasury
Government Budget Value in the United States is expected to be -7000.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Budget Value in the United States to stand at -20000.00 in 12 months time. In the long-term, the United States Government Budget is projected to trend around -62489.84 USD Million in 2021 and -10000.00 USD Million in 2022, according to our econometric models.