By Mucahithan Avcioglu
ISTANBUL (AA) - The US federal budget deficit increased 4%, or $11 billion, in February, compared to the same month the previous year, the US Treasury Department said Wednesday
The deficit was calculated at $307 billion in the fifth month of the 2025 fiscal year, which started Oct. 1, 2024, and will end Sept. 30, 2025.
The government had a deficit of $296 billion in February.
The market expectations for the budget balance in February was for a deficit of $302.5 billion.
The government's revenues increased 9% to $296 billion in February, while expenditures grew 6% to $603 billion.
In February, the deficit in the first five months of fiscal 2025 increased 38% compared to the same period of the previous year and rose to $1.15 trillion.
The deficit was realized at $828 billion in the same period of the previous year.
Expenditures in the first five months of the fiscal year increased 13% compared to the same period of the previous year to $3 trillion, while revenues rose 2% to $1.89 trillion.
In fiscal 2024, The deficit increased 8% compared to the previous year, rising to $1.8 trillion.
The federal deficit in the 2024 fiscal year was the third largest in US history.