US budget deficit rises to US$53 billion in March

[WASHINGTON] The United States ended the month of March with a budget deficit of US$53 billion, up 43 per cent from the same period last year, the US Treasury Department said on Monday.

Analysts polled by Reuters had forecast a US$43 billion deficit for last month. The deficit was $37 billion in March of 2014, according to Treasury's monthly budget statement.

The current fiscal year-to-date deficit stood at US$439 billion at the end of last month.

Differences in the monthly calendar affected March's budget results. If adjusted for timing-related transactions, the budget deficit would have been US$89 billion.

Receipts last month totaled US$234 billion, up 8 per cent from the year-ago period, while outlays were US$287 billion, up 14 per cent from the year-ago period, the Treasury said.

REUTERS