Follow us on
Welcome Guest! You are here: Home » International
US federal government to borrow $531 bn in six months
Tuesday November 5, 2013 8:09 AM, IANS

The US treasury department Monday announced that the federal government would borrow $531 billion from the market to fund its operation in six months starting Oct 1, an official statement said.

During the October-December quarter of this year, the department expected to issue $266 billion in net marketable debt, assuming an end-of-December cash balance of 140 billion dollars, Xinhua reported.

It is also expected to issue $265 billion in net marketable debt in the first three months of next year, assuming an end-of-March cash balance of $45 billion, the department said in a statement.

The US federal government budget deficit fell to $680 billion for the 2013 fiscal year ending Sep 30, a drop of $409 billion from the previous fiscal year.

It is the first time since the 2008 fiscal year that the annual budget shortfall has fallen below $1 trillion, according to a separate report of the department.

Share this page
Note: By posting your comments here you agree to the terms and conditions of
comments powered by Disqus
| Quick links
Contact us
Subscribe to: RSS » Facebook » Twitter » Newsletter Disclaimer | Terms of Use | Advertise with us | Link Exchange is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.
© 2012 Awaz Multimedia & Publications. All rights reserved.