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Treasury to keep borrowing steady in 4th quarter

Treasury to keep borrowing steady in 4th quarter

The Treasury Department says that it has cut back its annual borrowing capacity by $328 billion in the past year but plans to keep its borrowing steady for the next three months.
The department has been scaling back its borrowing after vastly expanding it to fund record deficits in 2009 and 2010. The deficit reached $1.3 trillion in 2010, down from a record-setting $1.42 trillion in budget year 2009. The department said earlier this week that it will borrow $362 billion in the current quarter.
But a Treasury official said the department's borrowing will remain level in the final three months of this year. The official cited uncertainty over tax policy and the economy as the reasons for keeping borrowing steady.


Updated : 2021-07-25 13:57 GMT+08:00