Treasury cuts Q4 borrowing forecast to $776 billio

Aihuicha, October 31: the U.S. Treasury Department released a report that lowered its estimate of federal borrowing for the current quarter after raising its revenue forecast, in contrast to recent data showing a rapid expansion of the fiscal deficit. The Treasury Department lowered its forecast for net borrowing for the October December quarter to $776 billion, down from a forecast of $852 billion at the end of July. The Treasury also expects its cash balance to reach $750 billion by the end of December, the same as previous forecasts. At the same time, it is expected to borrow $816 billion from January to March next year, and the cash balance is expected to be $750 billion by the end of March next year.