The US federal budget deficit in the 2018 fiscal year rose to its maximum in the last six years, reaching 3.9% of the country's GDP. At the same time, “incredible economic strength” is noted, which was achieved by the administration of President Donald Trump.. This is stated in the report of the Ministry of Finance, published on the website of the Ministry. At the end of the fiscal year ended September 30, the budget deficit amounted to $ 779 billion, which is 17% (113 billion) more than a year earlier.

In terms of GDP, it grew by 0.4 percentage points - up to 3.9%, which is the maximum since 2012. Over the past year, budget expenditures increased by $ 127 billion (3.2%), revenues - by $ 14 billion (0.4%). Most Americans spent on national defense, spending increased by $ 33 billion (to $ 664.7 billion) and social security spending increased significantly - by $ 43 billion (to $ 988 billion). At the same time, tax revenues were reduced, especially for corporate income tax - by $ 76 billion. It is reported that the US national debt also reached the maximum threshold for the entire history of America - $ 21.516 trillion. Over the past fingod, he soared more than $ 1.2 trillion. Meanwhile, presenting the results of the fiscal year, the Finance Ministry and the White House Budget Office drew attention to the economic achievements of the administration of the current head of the Oval Office. "President Trump continues to cultivate an incredible economic force, which contrasts sharply with the policies of the previous administration," the document says.. Since the beginning of his presidency, more than 4 million jobs have been created, real wages have grown by 1.4%, consumer sentiment is at its peak, lists the successes of the Trump Ministry of Finance. "The president is very knowledgeable about the realities that our national debt represents.

America’s booming economy will lead to higher government revenues - an important step towards long-term financial sustainability. But this fiscal picture is a direct warning to Congress about the grave consequences of irresponsible and unnecessary spending, "- said in a report the words of the Director of the Administrative and Budgetary Department John Mulvane. The Ministry of Finance warns that the budget deficit will continue to grow further. In 2019.

it will increase to $ 981 billion, or about 4.6% of GDP.