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.
An Iranian tanker was hit by U.S. forces on Saturday near Iran's key oil export hub, Kharg Island, in the Gulf...
Spanish authorities are preparing a new site in Ceuta to accommodate hundreds of migrants who remain on the str...
A Chinese national was pulled alive from a tunnel in Nepal on Saturday, authorities said, 10 days after a wall of ...
U.S. negotiators Steve Witkoff and Jared Kushner will visit Russia then Ukraine over the weekend, Russian state news agency TASS has reported, citing an unnamed source. Ukrainian President Volodymyr Zelenskyy has also said American envoys will visit the capitals of both countries.
The Iranian Health Ministry said at least 18 people were killed and 142 others injured in U.S. airstrikes carried out between 30 August and 2 September.
U.S. negotiators Steve Witkoff and Jared Kushner have arrived in Moscow for peace talks on the Russia-Ukraine conflict, two people familiar with the matter said. They were met by Russian Presidential Envoy Kirill Dmitriev.
U.S. efforts to squeeze Iran’s economy through an oil blockade and sanctions are becoming increasingly difficult for Tehran to withstand, according to three senior Iranian sources. Washington is escalating pressure in hopes of securing concessions in future negotiations.
Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 4th of September, covering the latest developments.
A Chinese national was pulled alive from a tunnel in Nepal on Saturday, authorities said, 10 days after a wall of ice, rock and mud tore through a Himalayan valley, killing more than 1,300 people and leaving more than 5,600 missing.
U.S. negotiators Steve Witkoff and Jared Kushner have arrived in Moscow for peace talks on the Russia-Ukraine conflict, two people familiar with the matter said. They were met by Russian Presidential Envoy Kirill Dmitriev.
Spanish authorities are preparing a new site in Ceuta to accommodate hundreds of migrants who remain on the streets following large-scale arrivals in July, local media reported Saturday.
At least two people were killed and dozens injured on Friday after an explosion at a military barracks in the Bolivian municipality of Viacha, about 30 km (20 miles) from La Paz, Defence Minister Ernesto Justiniano said.
The resolution, sponsored by African countries and led by Togo, passed by 164 votes to one, with six abstentions. The United States was the only country to vote against it.
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