US: Government swings to fiscal surplus in August

The US government recorded a budget surplus of $89 billion in August 2023, as reported by the Treasury Department. Total receipts for the month amounted $283 billion, while outlays stood at $198 billion, marking the lowest monthly figure in over two years.

With one month remaining in Fiscal Year 2023, the accumulated deficit reached $1.5 trillion, compared to the $1.3 trillion deficit recorded in FY 2022.