A key factor in the government's revenue boost was a dramatic rise in customs duty collections. July’s tariff revenue jumped 273 per cent, or $21 billion, compared to the same period last year, reaching approximately $27.7 billion. 

US budget deficit surges 20% in July despite record tariff revenues

US budget deficit reaches $1.8 trillion in fiscal 2024, third largest in history

According to reports, Russia's federal budget deficit worsened to a record level in December, driven by limits on oil exports at a time when spending on the invasion of Ukraine increased.

Russia's budget gap surges to record high in December

Amidst the cases of COVID-19, the United States government posted a December budget deficit of $ 144 billion, a record for the month with Coronovirus relief spending and unemployment benefits being far higher.

World Business Watch: U.S. December deficit hits record $144 Billion

The Treasury Department said the budget deficit last month was the first to reflect the enormity of government spending that has been authorized to try to mitigate the economic impact of the crisis.

US reports a record $738 billion budget deficit in April

In United States of America, six-month budget deficit rises to $ 744 Billion which is 8% up from last year. The tax payments due have been delayed until July 15.

US: Six-month budget deficit rises to $ 744 Bn, 8% up from last year