WASHINGTON, February 7 The US budget deficit will grow by $1 trillion over the next 10 years, according to a report by the Congressional Budget Office.
“The Congressional Budget Office estimates that the federal budget deficit will increase from $1.6 trillion in fiscal year 2024 to $2.6 trillion in 2034,” the document states.
In percentage terms, the level of the budget deficit in 10 years will reach 6.1% of GDP, which, as the authors of the document note, will significantly exceed the average value of this indicator over the past 50 years at 3.7% of GDP.