US federal deficit narrows

Washington, April 11 (IANS) The US federal government registered a budget deficit of $106.5 billion in March, about half of the level recorded in the previous month, said the US Treasury Department.

The federal government raked in a revenue of $186 billion, 8.6 percent higher than the same month a year ago. It registered outlays of $292.5 billion last month, below the year-ago level of $369.4 billion, reported Xinhua citing the department.

The combined budget deficit in the first six months of the 2013 fiscal year, which started in October 2012, totaled $600.5 billion, 23 percent lower than the imbalance for the same period of the last fiscal year.

The government receipts in the past six months rose 12 percent year on year to $1.197 trillion, but government spending fell 3 percent to $1.797 trillion dollars, according to the Treasury report Wednesday.

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