April 28, 2014 / 7:10 PM / in 4 years

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

(Repeats with no changes)

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.

Previously, the Treasury has forecast paying down $40 billion in debt this quarter. (Reporting by Jason Lange; Editing by James Dalgleish)

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