US budget deficit hits record high

The US federal budget deficit reached $660 billion in March

US budget deficit hits record high

The record-breaking figure is linked to a government support programme that artificially supports the economy of the country, which has been hit hard by the pandemic.

According to the Treasury Department released on Monday, 12 April, the deficit widened to a record $1.706 trillion in the first six months of the current fiscal year, compared to a deficit of $743 billion in the same period a year earlier.

The agency specified that the March expenditures increased, in particular, because $339 billion is allocated for one-time payments to the population under the programme, which was approved last month.

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