(MENAFN- Saudi Press Agency)
WASHINGTON, Jumada I 1, 1437, Feb 10, 2016, SPA - The federal government recorded a budget surplus in January of $55.2 billion, helped by a timing quirk that shifted benefit payments to December.
The Treasury Department says the January surplus marked an improvement from January 2015 when the government recorded a small deficit of $17.5 billion. Part of the improvement reflected the fact that $42 billion in benefit checks were sent out in December because the regular payment period fell on a weekend, AP reported.
For the first four months of this budget year, the deficit totals $160.4 billion, below last year's deficit of $194.2 billion for the same period.
Both the Obama administration and the Congressional Budget Office are forecasting that this year's deficit will top last year's imbalance of $439.1 billion.
- SPA
22:28 LOCAL TIME 19:28 GMT
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