Washington: The US budget deficit decreased to $1.77 trillion in fiscal year 2025, marking a 2% decline from the previous year, as reported by the Treasury Department on Thursday. The previous fiscal year's deficit was recorded at $1.82 trillion.

According to Anadolu Agency, the government's revenues in fiscal year 2025 increased by 6% compared to the previous period, reaching a total of $5.23 trillion. Meanwhile, expenditures rose by 4% during the same period, amounting to $7.01 trillion. Notably, in September, which marks the conclusion of the fiscal year, the government recorded a budget surplus of $198 billion.

Government revenues for September rose by 3% compared to the same month last year, totaling $544 billion. Concurrently, spending in September decreased by 23%, amounting to $346 billion. A significant factor contributing to the reduction in the deficit was the record levels of customs duty revenues. These revenues increased by 153% in fiscal year 2025, reaching $195 billion.

The US fiscal year spans from October to September, providing a comprehensive overview of the government's financial performance.