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UPDATE 1-U.S. Treasury expects to pay down debt in April-June quarter
April 28, 2014 / 7:25 PM / 4 years ago

UPDATE 1-U.S. Treasury expects to pay down debt in April-June quarter

(Adds projections for coming quarter)

WASHINGTON, April 28 (Reuters) - The U.S. Treasury said on Monday it expects to pay down $78 billion in net marketable debt in the April-June quarter, a sign the improving economy is reducing the federal budget deficit.

Washington is still on track to run roughly a half trillion dollars into the red this year. While that is high by historical standards, annual deficits have fallen precipitously in recent years as the economy recovered from a deep recession.

The Treasury had previously forecast paying down $40 billion in debt this quarter.

The Congressional Budget Office, however, projects budget deficits will widen slightly relative to national economic output over most of the current decade’s remaining years.

The Treasury said it expects to issue $169 billion in net marketable debt for the July-September period. (Reporting by Jason Lange; Editing by James Dalgleish and Paul Simao)

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