US Treasury cuts borrowing forecast

The U.S. Treasury lowered its third-quarter borrowing forecast to $740 billion.

The US Treasury Department lowered its borrowing forecast for the third quarter of this year to $740 billion.

The Ministry announced its borrowing estimates for the July-September and October-December periods of this year.

The statement said that the Treasury is expected to borrow $740 billion in the third quarter of 2024.

It was stated in the statement that the cash balance at the end of September is expected to be 850 billion dollars, and that the borrowing estimate is 106 billion dollars lower than the estimate announced in April.

The statement said that in the fourth quarter of this year, borrowing is expected to be 565 billion dollars and the cash balance at the end of December is expected to be 700 billion dollars.

In the statement, it was stated that the Treasury had borrowed 234 billion dollars in the April-June period, and that the cash balance at the end of this quarter was 778 billion dollars.

In its estimate shared in April, the Ministry announced that the Treasury was expected to borrow $243 billion in the second quarter of 2024, and that the cash balance at the end of June was expected to be $750 billion.