The US budget deficit peaked in 2013

The US budget deficit peaked in 2013

The Federal budget deficit, States at the end of the 2017 financial year, which ended September 30, amounted to $666 billion, or 3.5% of GDP, according to the Finance Ministry. Bloomberg notes that this is the highest figure since 2013.

By the end of 2016 fingida the Federal budget deficit amounted to U.S. $587 billion, or 3.2% of GDP. Thus, in 2017 fingado figure rose to $79 billion.

“Today’s budget figures underscore the importance of achieving strong and sustainable economic growth. Thanks to the tax reform and the easing of the regulation, States will be able to return to a higher GDP growth rate, and this will allow to get rid of the budget deficit,” said Treasury Secretary Steven Mnuchin.