US federal gov. posts USD106.9bn surplus in April

(MENAFN) According to the U.S. Treasury Department, the country's federal government posted a budget surplus of USD106.9 billion in April, while the combining budget deficit in the first seven months dropped strongly, Xinhua reported. According to a report released by the department, the federal government posted a revenue of USD414.2 billion last month, increasing 1.8 percent compared to a year earlier, while spending registered USD307.4 billion, up 4.6 percent year-on-year. The combined budget deficit stood at USD306.4 billion in the first five months of the current financial year, lower by 37 percent compared to the same period a year earlier. It is noted that the increase in the monthly surplus is attributed to the increasing personal income tax.