The US Congress managed to reach an agreement on allocating money for the work of the federal government until the end of fiscal year 2024, which begins on October 1, 2023. This was reported by Reuters referring to Chuck Schumer, leader of the Democratic majority in the Senate.
According to the publication, the US government’s fiscal year 2024 budget will be approximately $1.66 trillion.
Schumer noted that the work of many federal structures could be suspended as early as March 8 due to funding cuts. The politician added that the House of Representatives should quickly accept the necessary documents and send them to the Senate. He later said the Senate would again need bipartisan cooperation to pass these bills before the deadline. These actions will help Washington avoid a shutdown, Schumer said.
Before that, VTB chairman Andrey Kostin statedThat the United States will not be able to prevent the collapse of the financial system at the level of public debt the country currently has.
Previously Russia augmented Investments in U.S. government debt.