US Treasury Department lowers borrowing estimate to $740 billion

The US Treasury Department has announced its borrowing estimates for the July-September and October-December periods of this year.

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US Treasury Department lowers borrowing estimate to $740 billion

The statement noted that the cash balance at the end of September is projected to be $850 billion, and reported that the borrowing estimate is $106 billion lower than the forecast announced in April.

The statement also expressed that $565 billion in borrowing is expected in the fourth quarter of this year, and that the cash balance at the end of December is expected to be $700 billion.

The statement, which noted that the Treasury borrowed $234 billion in the April-June period, shared the information that the cash balance at the end of this quarter was $778 billion.

In the forecast it shared in April, the Department had announced that the Treasury was expected to borrow $243 billion in the second quarter of 2024, and that the cash balance at the end of June was projected to be $750 billion.

News Source: AA

US Treasury Department lowers borrowing estimate to $740 billion

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