United States government releases final budget results for fiscal year 2020

The US’s final budget results for fiscal year (FY) 2020 were released on 16 October 2020.

The results show that the US’s deficit for FY 2020 was $3.1 trillion; $2.1 trillion higher than the prior year’s deficit. The FY 2020 deficit was $2.0 trillion higher than the estimate of $1.1 trillion in the FY 2021 Budget published in February.

The results reflect the effect of COVID-19 on the economy, according to the U.S. Treasury and White House Office of Management and Budget media release.

Read the full media release and details of receipts and expenditure.