WASHINGTON (Reuters) – The non-partisan U.S. Congressional Budget Office on Wednesday said the federal budget deficit for fiscal 2020 will hit $3.3 trillion, 16 percent of gross domestic product, down from its April 24 preliminary estimate of $3.7 trillion.
Federal deficits will fall to $1.8 trillion in the fiscal year beginning Oct. 1, the CBO said, and will total $13 trillion over 10 years.
(Reporting by Richard Cowan; Editing by Chizu Nomiyama)
