US Budget Deficit Nears $2 Trillion
Russia's oil and gas sector is facing financial strain, with budget deficits approaching 6 trillion rubles. Hundreds of oil wells are reportedly being closed as a result of these economic pressures. The US federal budget deficit is projected to reach $2 trillion this fiscal year, exceeding 6% of GDP. This increase is attributed to rising spending on mandatory programs and interest on debt, coupled with reduced revenue.
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