WASHINGTON, Aug. 10 (UPI) -- The U.S. budget deficit shrank more than expected to $52.8 billion last month from $69 billion a year ago, the Treasury Department said Wednesday.
The Congressional Budget Office had estimated that the deficit would be about $58 billion in July, MarketWatch said.
The $52.8 billion figure was the lowest since 2002.
Through the first 10 months of the government's fiscal year, the federal deficit has totaled $302.6 billion, $110.3 billion less than at this time in 2004.
For all of 2005, the CBO currently expects a deficit of less than $350 billion, with the agency scheduled to make public an updated forecast next Monday. The White House forecast a deficit of $333 billion.
Year-to-date receipts were up 13.7 percent to $1.75 trillion. Individual income taxes were up 15.1 percent to $756.1 billion, while corporate income taxes are up 41.7 percent to $205.9 billion.
Also, expenditures were higher by 6.1 percent to $2.05 trillion for the year.
