By Ovunc Kutlu
ISTANBUL (AA) - The US Treasury Department announced Monday it expects to borrow $546 billion in privately held net marketable debt, assuming a cash balance of $700 billion by the end of September, down from the figure announced earlier.
The fourth quarter figure, from October through December, is $19 billion lower than the previous estimate that was announced in July, it said in a statement.
During the January-March period, the first quarter of 2025, the Treasury Department expects to borrow $823 billion in privately held net marketable debt, assuming a cash balance of $850 billion by the end of December.
"During the July – September 2024 quarter, Treasury borrowed $762 billion in privately-held net marketable debt and ended the quarter with a cash balance of $886 billion," said the statement.
"In July 2024, Treasury estimated borrowing of $740 billion and assumed an end-of-September cash balance of $850 billion," it added.