https://sputnikglobe.com/20161014/us-budget-deficit-2016-1046352013.html

US Budget Deficit in Fiscal Year 2016 Reaches $587Bln - Treasury

Sputnik International

The US budget deficit in fiscal year 2016 was $587 billion or $28 billion less than in the 2017 budget forecast of President Barack Obama, the US Treasury... 14.10.2016, Sputnik International

2016-10-14T22:06+0000

2022-11-03T18:59+0000

https://cdn1.img.sputnikglobe.com/img/103976/91/1039769101_0:103:2048:1261_1920x0_80_0_0_03bd12d4fbf1658586dd302291506edc.jpg

Sputnik International

feedback@sputniknews.com

+74956456601

MIA „Rossiya Segodnya“

252

2016

Sputnik International

feedback@sputniknews.com

+74956456601

MIA „Rossiya Segodnya“

252

News

en_EN

Sputnik International

feedback@sputniknews.com

+74956456601

MIA „Rossiya Segodnya“

252

1920

1080

true

1920

1440

true

https://cdn1.img.sputnikglobe.com/img/103976/91/1039769101_0:38:2048:1326_1920x0_80_0_0_1f532b5bb165ba2ef51f98e186a85628.jpg

1920

true

Sputnik International

feedback@sputniknews.com

+74956456601

MIA „Rossiya Segodnya“

252

Sputnik International

newsfeed, us, us treasury department, obama administration

US Budget Deficit in Fiscal Year 2016 Reaches $587Bln - Treasury

22:06 GMT 14.10.2016 (Updated: 18:59 GMT 03.11.2022)

CC BY 2.0 / Roman Boed / The US Treasury DepartmentThe US Treasury Department

The US Treasury Department - Sputnik International

CC BY 2.0 / Roman Boed / The US Treasury Department

The US budget deficit in fiscal year 2016 was $587 billion or $28 billion less than in the 2017 budget forecast of President Barack Obama, the US Treasury Secretary Jacob Lew said in a joint statement with Office of Management and Budget Director Shaun Donovan.

WASHINGTON (Sputnik) — The officials hailed the economic and fiscal progress under the Obama administration as remarkable.

"As a percentage of Gross Domestic Product (GDP), the deficit was 3.2 percent, about two-thirds lower than the deficit in FY [fiscal year] 2009 and equal to the average of the last 40 years," the release stated on Friday.