US Budget Reports Will Be Affected by Government Shutdown

The Federal Government Shutdown Disrupts Budget Reports in the U.S.

U.S. Treasury Secretary Scott Bessent made significant statements at the Community Bank Conference organized by the Federal Reserve.

Bessent stated that due to the federal government shutdown, exact figures related to budget reports could not be released. However, he noted that according to the U.S. Congressional Budget Office (CBO), the budget deficit for the fiscal year ending September 30 would be slightly lower than the previous year.

The Treasury Secretary emphasized the importance of the budget deficit starting at 5% of Gross Domestic Product (GDP) and said, "The ratio of the budget deficit to GDP has fallen from 6.5% to 5.9% according to CBO figures, excluding historical periods of war or recession."

Eleven-Month Budget Deficit Approaches 2 Trillion Dollars

According to the previous budget report published by the U.S. Treasury Department in August, the federal government's budget deficit decreased by 9% compared to the same month last year, falling to 345 billion dollars due to tariff revenues.

As of August, the eleventh month of the fiscal year 2025, the total budget deficit was reported to be 1 trillion 973 billion dollars, which is a 4% increase compared to the same period last year.

Due to the federal government being closed since October 1, there have been delays in the publication of some important economic data. The budget report for September is expected to be released tomorrow.

Additionally, in the latest assessment released by the CBO, it is estimated that the federal budget deficit for fiscal year 2025 will decrease by 8 billion dollars to 1 trillion 809 billion dollars compared to the previous year.