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U.S. Treasury Posts Record Spending Plan Surplus in April as Profits Skyrocket|Investing News

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May 11, 2022
tagreuters.com2022newsml LYNXNPEI4A0ZM12022 05 11T180716Z 1 LYNXNPEI4A0ZM RTROPTP 3 USA TREASURY SECURITIES

( Reuters) – The U.S. federal government published a $308 billion surplus in April– a record for any month– as invoices almost doubled from a year previously amidst a strong financial healing from the COVID-19 pandemic, the Treasury Department stated on Wednesday.

The April surplus compares to a $226 billion deficit for April 2021, when invoices were decreased by a one-month hold-up in the yearly tax filing due date till Might 17.

The previous record month-to-month surplus was $214 billion in April 2018. April has actually generally been a budget plan surplus month due to the conventional April 15 tax filing due date, however current April deficits were tape-recorded in 2009, 2010 and 2011 after a monetary crisis, and in 2020 and 2021 due to the COVID-19 pandemic, a Treasury authorities informed press reporters.

April invoices increased 97% from a year previously to $864 billion, likewise a record for any month, the Treasury stated. April investments fell 16% to $555 billion, showing lower costs for COVID-19 relief.

For the very first 7 months of the 2022 , the federal government reported a deficit of $360 billion, down 81% from the year-earlier deficit $1.932 trillion. Year-to-date invoices swelled by 39% to $2.986 trillion– a record for the duration– while investments fell 18% to $3.346 trillion.

( Reporting by David Lawder; Modifying by Andrea Ricci)

Copyright 2022 Thomson Reuters

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