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.
Iran’s Supreme Leader Mojtaba Khamenei warned “foreigners who commit evil” have no place in the Gulf, outlining a “new phas...
A freight train carrying Russian grain and fertiliser has departed Azerbaijan for Armenia, continuing transit flows across the South Caucasus....
China has passed a new law aimed at ensuring its most vulnerable citizens are not left without support....
Tashkent hosted the INMerge Innovation Summit Roadshow, bringing together start-ups, investors and technology leaders to explore the future of Cent...
A European Parliament resolution on Armenia is stirring debate beyond Brussels, with its wording raising concerns in Azerbaijan as peace talks gath...
China has passed a new law aimed at ensuring its most vulnerable citizens are not left without support.
Tashkent hosted the INMerge Innovation Summit Roadshow, bringing together start-ups, investors and technology leaders to explore the future of Central Asia’s digital economy and regional cooperation.
Azerbaijan–Armenia border talks that have produced a draft text on delimitation are “very important”, an ex-diplomat and international energy leader has said, urging leaders to resist ultranationalist pressure and negotiate fairly.
The president of the International Committee of the Red Cross (ICRC), Mirjana Spoljaric Egger, visited Tehran to address “urgent humanitarian concerns” following the U.S.–Israel war on Iran, according to an ICRC delegation statement.
A report published by Minval Politika has raised new questions over alleged efforts by Luis Moreno Ocampo to shape international pressure against Azerbaijan and influence political dynamics around Armenia.
A Pentagon official provided the first official estimate of the cost of the U.S. war in Iran on Wednesday (29 April), telling lawmakers that $25 billion had so far been spent on the conflict, most of it on munitions. Earlier, Donald Trump said that the U.S. had "militarily defeated" Tehran.
Shares in Meta Platforms fell sharply in extended trading on Wednesday after the tech giant raised its annual capital spending forecast by billions of dollars.
Iran’s Supreme Leader Mojtaba Khamenei warned “foreigners who commit evil” have no place in the Gulf, outlining a “new phase” for the Strait of Hormuz, while a senior adviser said U.S. blockade efforts would fail and could trigger confrontation.
The decision by the United Arab Emirates to leave OPEC+ on 1 May has put renewed focus on one of the most influential groups in global energy - and how its decisions can shape oil prices worldwide.
China has passed a new law aimed at ensuring its most vulnerable citizens are not left without support.
China has warned the U.S. that Taiwan will dominate next month’s summit in Beijing, raising pressure on Washington and concern in Taipei over any shift in long-standing American policy.
Shares in Meta Platforms fell sharply in extended trading on Wednesday after the tech giant raised its annual capital spending forecast by billions of dollars.
From Thursday, 1 May, goods from every African country with diplomatic ties to China will be able to enter the Chinese market without paying import duties.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 30th of April, covering the latest developments you need to know.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment