US posts US$106b budget surplus in April

[WASHINGTON] The US government posted a US$106 billion budget surplus in April, down 32 per cent from the same period last year, the Treasury Department said on Wednesday.

The government had a surplus of US$157 billion in April of 2015, according to the Treasury's monthly budget statement. Analysts polled by Reuters had expected a US$112 billion surplus for last month.

Accounting for calendar adjustments, April would have shown a US$147 billion surplus compared with an adjusted US$157 billion surplus in April 2015.

The current fiscal year-to-date deficit was US$355 billion, up 25 per cent from a US$283 billion deficit this time last year.

On an adjusted basis, the gap was US$310 billion compared with US$283 billion last fiscal year.

Receipts last month totaled US$438 billion, a 7 per cent decrease from the same period last year, while outlays stood at US$332 billion.

REUTERS