November 05, 2024 20:23 (IST)
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US budget deficit hits record high amid COVID-19 pandemic

US budget deficit hits record high amid COVID-19 pandemic

Washington/Xinhua: The US federal budget deficit soared to a record 3.1 trillion dollars in the fiscal year 2020, as the COVID-19 pandemic has prompted massive fiscal stimulus and caused tax revenue to fall, official data showed on Saturday.