US budget posts deficit of $367B in November

By Sevgi Ceren Gokkoyun

The US federal government's budget deficit increased by 17% in November year-on-year, rising to $367 billion, the US Treasury Department said Wednesday.

The federal government had a budget deficit of $314 billion in the same month last year.

The market expectation for the budget balance in this period was that the budget would have a deficit of $349 billion in November.

The government's revenues increased by 10% to $302 billion in November compared to the same month last year, while its expenditures increased by 14% to $669 billion.

During the first two months of the 2025 fiscal year, or the October-November period, the total budget deficit in the country increased by 64% compared to the same period last year and reached $624 billion.

Expenditures in the two-month period rose by 18% to $1.25 trillion while revenues decreased by 7% to $629 billion over the same period.

The US budget deficit increased by 8% in the 2024 fiscal year compared to the previous year to $1.8 trillion.

*Writing by Gokhan Ergocun from Istanbul