US budget deficit increased by 10.4% annually to $243.7 billion at the end of July TASS According to US Treasury data.
At the same time, since the beginning of the current fiscal year (from October 1, 2023), the US government budget deficit, on the contrary, decreased by 6% compared to the previous similar reporting period, from $1.613 trillion to $1.517 trillion. .
Last month, the US national debt increased for the first time in history overcome $35 trillion mark. According to estimates, within ten years the US debt will exceed $50 trillion, or 122% of the country’s GDP. At the same time, the total global public debt at the end of last year reached the following: approximately 100 trillion dollars.
Economists to give permissionIt is stated that the US economy could enter a recession before the end of this year.
Formerly an economist It has been saidWhat’s next for the world economy after the recession begins in the US?