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US budget deficit grew slightly in first four months of FY 2015

[WASHINGTON] The Congressional Budget Office on Friday estimated a US$195 billion US budget deficit for the first four months of the current fiscal year, up from US$183 billion in the same period last year.

The CBO said the US$12 billion increase in the deficit for the October-January period was largely driven by lower payments to the US Treasury this year from government-controlled mortgage finance groups Fannie Mae and Freddie Mac compared to the prior year period.

Both receipts and outlays were up by about 8 per cent, the non-partisan budget agency said.