The US treasury department on Monday announced that the federal government would borrow $531 billion from the market to fund its operation in six months starting Oct 1, an official statement said.
The US treasury department Monday announced that the federal government would borrow $531 billion from the market to fund its operation in six months starting Oct 1, an official statement said.
During the October-December quarter of this year, the department expected to issue $266 billion in net marketable debt, assuming an end-of-December cash balance of 140 billion dollars, Xinhua reported.
It is also expected to issue $265 billion in net marketable debt in the first three months of next year, assuming an end-of-March cash balance of $45 billion, the department said in a statement.
The US federal government budget deficit fell to $680 billion for the 2013 fiscal year ending Sep 30, a drop of $409 billion from the previous fiscal year. It is the first time since the 2008 fiscal year that the annual budget shortfall has fallen below $1 trillion, according to a separate report of the department.
IANS
