Original title: the White House predicts that the US government's budget deficit for fiscal year 2021 will reach 3.12 trillion US dollars.
Source: CCTV news client
According to a report released by the White House on Aug. 27, the budget deficit for the 2021 fiscal year ending September 30 will reach $3.12 trillion, down $555 billion from the expected figure released in May. If the budget deficit for the current fiscal year is eventually set at $3.12 trillion, it will be the second highest in U.S. history, down from $3.129 trillion last year.
The report points out that the sharp rise in the budget deficit is mainly due to a series of government stimulus bills such as the American Aid Program. In addition, the report predicts that the US government's budget deficit will remain above $1 trillion over the next decade. Meanwhile, GDP growth is expected to reach 7.1 per cent this year. (CCTV reporter Xu Jie)
(editor Liu Xuanjie)