US Treasury lowers borrowing estimate

The US Department of the Treasury has announced its borrowing estimates for the January-March and April-June periods of this year. The statement indicated that the Treasury is expected to borrow 760 billion dollars in the first quarter of 2024.

The statement, which noted that the cash balance at the end of March is projected to be 750 billion dollars, reported that the borrowing estimate is 55 billion dollars lower than the estimate announced in October of last year. The statement also reported that 202 billion dollars in borrowing is expected in the second quarter of this year, with a projected cash balance of 750 billion dollars by the end of June.

The statement, which noted that the Treasury borrowed 776 billion dollars in the October-December period of last year, shared the information that the cash balance at the end of that quarter was 769 billion dollars.

In the estimate it shared last October, the Department had announced that the Treasury was expected to borrow 776 billion dollars in the last quarter of 2023 and that the cash balance at the end of December last year was projected to be 750 billion dollars.

News Source: 12punto