Lates News

On March 11th, local time, the US Congressional Budget Office released the budget and economic outlook for the years 2026 to 2036. According to the forecast, the federal budget deficit for the fiscal year 2026 is projected to be $1.9 trillion and is expected to increase to $3.1 trillion by 2036. In relation to the size of the economy, the deficit in 2026 is expected to be 5.8% of the Gross Domestic Product (GDP) and is projected to increase to 6.7% by 2036, higher than the average deficit level of 3.8% over the past 50 years. The main reason for the increase in the deficit is the rise in net interest costs. (CCTV)