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United States : US trims budget deficit by $106 billion in 8 months
Publish Date : 14-Jun-2012
The United States (US) trimmed its budget deficit by US$83 billion (S$106 billion) in the first eight months of fiscal 2012, the Treasury reported on Tuesday, as income sped up while spending was basically flat.
The deficit in the October-May period was US$844 billion, nearly 9 per cent down from a year earlier, helped by a 5.4 per cent increase in tax and other receipts to US$1.56 billion.
Spending at US$2.41 billion in the eight months was a bare 0.2 per cent lower.
The Treasury said that some calendar-based differences to its operations from last year to this masked a larger, US$101 billion reduction in the deficit during the period.
