The US federal budget deficit in fiscal year 2020 will exceed $ 1 trillion, the budgetary administration of the US Congress said in a report.
According to him, the deficit will be about 4.6% as a percentage of GDP and will increase to 5.4% by 2030, reaching $ 1.3 trillion, CNBC reported.
Budget management experts note, this can be the second case in the last 100 years, when the ratio of the state budget deficit to the US GDP would exceed 4% for over five years. Such an indicator was recorded during the World War II and in the first years after it.
The US federal budget deficit reached $ 1 trillion for the last time in 2012. The peak was observed in 2009, when this amount reached the mark of $ 1.4 trillion.