US: Budged deficit hits $1.1 trillion in first half of FY 2023

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The US government recorded a $378 billion budget deficit in March. The Treasury Department informed that total receipts in March totalled $313 billion and outlays jumped to $691 billion.

In the same month last year, the deficit was $193 billion. So far, during the fiscal year 2023, the fiscal deficit is $1.1 trillion, 65% higher from a year earlier. The total deficit in FY 2022 was $1.3 trillion.

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