U.S. federal government to borrow 531 bln USD in six months

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WASHINGTON, Nov. 4 -- The U.S. Treasury Department on Monday announced that the federal government would borrow 531 billion U.S. dollars from the market to fund its operation in six months starting Oct. 1.

During the October-December quarter of this year, the department expected to issue 266 billion dollars in net marketable debt, assuming an end-of-December cash balance of 140 billion dollars. It also expected to issue 265 billion dollars in net marketable debt in the first three months of next year, assuming an end-of-March cash balance of 45 billion dollars, the department said in a statement.

The U.S. federal government budget deficit fell to 680 billion dollars for the 2013 fiscal year ending Sept. 30, a drop of 409 billion dollars from the previous fiscal year. It is the first time since the 2008 fiscal year that the annual budget shortfall has fallen below 1 trillion dollars, according to a separate report of the department.

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