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blank.gif (49 bytes)08/01/1999, updated at 16:00        blank.gif (49 bytes)weather.gif (982 bytes)archive.gif (946 bytes)search.gif (947 bytes)

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US: Bigger Budget Surplus for Fiscal 1999 Announced

  US President Bill Clinton announced on January 6 a bigger budget surplus of US$76 billion for fiscal year 1999, which will end on September 30, higher than the initial projection in May 1998 of a US$54 billion surplus for 1999.

  The budget surplus in fiscal 1999 would be the second in a row after nearly three decades of deficit, and the largest in history in dollar terms.

  The increased forecast was attributed to a "renewed strength in the economy." The U.S. economy slowed down less than expected in the third and fourth quarters of 1998.

  

Economicnews 1999-01-08 Page7

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