The U.S. unexpectedly recorded a $27 billion budget surplus in June, reversing last year’s deficit. This improvement reflects stronger customs collections and significant cuts in education spending amid ongoing fiscal challenges.
The U.S. federal government posted a $27 billion budget surplus in June, the Treasury Department reported, thanks largely to a surge in customs revenues and reduced education expenditures.
For the first nine months of fiscal year 2025, running from October 2024 to June 2025, government revenues rose 13% to $526 billion, while expenditures dropped 7% to $499 billion. This contrasts with market expectations of a $41.5 billion deficit and a $71 billion deficit in June last year.
Customs duty revenues, aligned with President Donald Trump’s tariff policies, jumped 301% year-on-year in June, reaching $27 billion and surpassing $100 billion for the fiscal year to date at $113 billion.
Education spending fell by 91% in June compared to the same month last year.
Despite the June surplus, the overall fiscal deficit for the first nine months grew by 5% to $1.34 trillion, compared to $1.3 trillion last year. Revenues for this period increased 7% to $4 trillion, while expenditures rose 6% to $5.35 trillion.
The U.S. government has shut down after Congress failed to approve funding. Non-essential services are paused, thousands of federal workers are left u...
NATO navies are ramping up defenses in the Baltic and North Seas as Russia’s so-called “shadow fleet” of deceptive vessels grows rapidly, raisin...
The Pentagon recommitted itself in a statement on Tuesday to scaling back its military mission in Iraq, a process that a U.S. official said will see B...
U.S. stock index futures fell on Wednesday as investors assessed the implications of the federal government shutdown, which threatens to disrupt the r...
South Korean airport workers will go on strike starting on Wednesday, the state-run Korea Airports Corporation said....
The U.S. government has shut down after Congress failed to approve funding. Non-essential services are paused, thousands of federal workers are left unpaid, and both parties blame each other for the deadlock.
NATO navies are ramping up defenses in the Baltic and North Seas as Russia’s so-called “shadow fleet” of deceptive vessels grows rapidly, raising fears of espionage and sabotage against critical infrastructure.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
As Russia shifts its energy exports from the West to the East, Europe — until recently a major buyer of Russian oil and gas — is seeking alternative sources of supply.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
The U.S. government has shut down after Congress failed to approve funding. Non-essential services are paused, thousands of federal workers are left unpaid, and both parties blame each other for the deadlock.
NATO navies are ramping up defenses in the Baltic and North Seas as Russia’s so-called “shadow fleet” of deceptive vessels grows rapidly, raising fears of espionage and sabotage against critical infrastructure.
The Pentagon recommitted itself in a statement on Tuesday to scaling back its military mission in Iraq, a process that a U.S. official said will see Baghdad command efforts to combat remnants of Islamic State inside its own country.
U.S. stock index futures fell on Wednesday as investors assessed the implications of the federal government shutdown, which threatens to disrupt the release of key economic data and complicate the Federal Reserve's policy path.
South Korean airport workers will go on strike starting on Wednesday, the state-run Korea Airports Corporation said.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment