US Treasury expects to borrow $729B in Q1

By Gokhan Ergocun

ISTANBUL (AA) – The US Treasury Department is expected to borrow $729 billion during the January-March period of 2022.

The borrowing estimate is $254 billion higher than the previous announcement in November 2021, according to a statement released by the department late Monday.

It added that the increase is due to a reduced beginning-of-quarter balance.

The Treasury will also borrow $66 billion in the second quarter of this year, according to its projection.

During the last quarter of 2021, it borrowed $689 billion.