The U.S. budget deficit reached a record high
The US budget deficit in June reached a record level of 864 billion dollars, follows from the data of the Ministry of Finance.
This is two times more than the may figure and almost ten times higher than the figures for June last year.
In addition, the reduction of budget revenues in June almost reached the size of the deficit for the entire fiscal year 2019.
As noted in the Treasury, the drop is due to the growing expenditures of the Federal government to combat the spread of coronavirus, and also with the reduction of tax revenues.
Earlier, the former Minister of Finance Henry Paulson warned that the uncontrolled growth of public debt and budget deficit could deprive the dollar's privileged position as the world's main reserve currency.