By Mucahithan Avcioglu
ISTANBUL (AA) - The US federal government's budget deficit reached $145 billion last December, a 67% surge year-on-year, according to Treasury Department data released on Tuesday.
The federal government had a budget deficit of $87 billion in the same period of the previous year.
Market expectations for the budget balance during this period were for a deficit of $140.7 billion.
Government revenues rose 7% year-on-year to $484 billion in December, while expenditures climbed 16% year-on-year to $629 billion.
In the first three months of the 2026 fiscal year, which began last October, the country's total budget deficit fell 15% compared to the same period of the previous fiscal year, dropping to $602 billion.
This deficit was $711 billion in the same period of the previous year.
As of the end of the third month of the fiscal year, revenues climbed 13% year-on-year to $1.2 trillion, while expenditures were up 2% to $1.8 trillion.