ISTANBUL

The US budget deficit fell to $1.77 trillion in fiscal year 2025, posting a 2% decrease compared to the previous year, the Treasury Department announced Thursday.

The budget deficit was recorded at $1.82 trillion in fiscal year 2024.

The government's revenues in fiscal year 2025 increased 6% compared to the previous period, reaching $5.23 trillion, while expenditures rose 4% during the same period, to $7.01 trillion.

In September, the final month of the fiscal year, the government posted a budget surplus of $198 billion.

Government revenues rose 3% in September compared to the same month last year to $544 billion, while spending fell 23% to $346 billion.

Customs duty revenues, which reached record levels during, contributed to the reduction in the deficit. Revenues from customs duties in fiscal year 2025 increased 153% to $195 billion.

The US fiscal year begins in October and ends in September.