U.S. budget surplus soars

U.S. budget surplus soars

WASHINGTON (AFP): The U.S. government surplus soared to a
record US$189.80 billion in April from $159.50 billion in the
same month last year, the US Treasury announced here Friday.

The April report typically registers the largest monthly
surplus of the fiscal year, as it includes tax receipts received
ahead of the mid-April deadline for filing income taxes.

The Treasury said overall receipts totaled a record $331.80
billion in April, while outlays came to $142 billion.

The government's interest payments on publicly-held debt
totaled $18.63 billion in April and $201.85 billion so far this
fiscal year.

Customs duties fell $176 million to $1.48 billion, indicating
that imports fell for the month.

The Congressional Budget Office projects a surplus of 281
billion for the fiscal year to September 2001, up from 237
billion in the previous fiscal period.

Before Friday's April budget release, some economists
questioned whether the Treasury would continue to receive strong
revenues given the weak economy. Merrill Lynch Company forecasts
a surplus of only $250 billion this year.