27 September 2001, 09:54 US budget surplus may shrink in 2002, deficit not excluded - source
WASHINGTON (AFX) - The US budget surplus may shrink by 130 bln usd
to 44 bln usd in fiscal 2002 and a deficit is not excluded, a
congressional source said yesterday.
The reduction of the surplus, which reached 174 bln usd before the
terrorist attacks of September 11, would be the result of a significant
economic slowdown as well as emergency assistance programs totaling 60
bln usd adopted in the wake of the attacks, the source said.
"We are not in a good position to make good estimate now," said the
source, adding, "It's reasonable to expect a deficit in 2002."
The Congressional Budget Office was expected to release a report
showing a drop in the 2001 budget surplus of between 30 and 40 bln usd,
according to the source.
Fiscal 2002 begins on October 1.
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