By Ovunc Kutlu
ISTANBUL (AA) - The US Treasury Department announced on Monday that it has lowered its borrowing estimate for privately-held marketable debt.
The Treasury said it expects to borrow $760 billion in privately-held net marketable debt during the first quarter of this year.
The latest borrowing estimate is $55 billion lower than announced in October 2023, "largely due to projections of higher net fiscal flows and a higher beginning of quarter cash balance," it said in a statement.
The department said it anticipates borrowing $202 billion in privately-held net marketable debt in the second quarter of 2024.
It noted that $776 billion was borrowed in privately-held net marketable debt in the fourth quarter of 2023 quarter.