Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The US budget deficit reached $243.7 billion in July


August, 13 2024
watermark Economic news

In July 2024, the US federal budget deficit reached $243.7 billion, which is 10.4% more than in July 2023. 


Despite a 19.6% increase in budget revenues to $330.377 billion, expenditures increased even more – by 15.5% to $574.119 billion. In the first ten months of the fiscal year (from October 1), the budget deficit amounted to $1.517 trillion, which is 6% less than in the same period last year. 


However, the growth of government spending, especially interest payments on the national debt (32% to $956 billion), raises serious concerns. 


According to the U.S. Treasury Department, the national debt has exceeded $35 trillion for the first time in history. 


The Congressional Budget Office predicts that by 2034 it will reach $50 trillion, accounting for more than 122% of GDP. Such dynamics can lead to serious economic problems in the future, especially given the projected average annual GDP growth in the period 2029-2034 – only 1.8%.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.