The US budget deficit may reach $ 1 trillion in 2020

The Central Bank of Oman expected the US economy to grow at a "steady" rate of 2.2 percent this year, but the federal budget deficit will reach $ 1.02 trillion, and federal spending in 2020 is estimated at $ 4.6 trillion.

The central bank expects economic growth to slow to an annual rate of 1.7% from 2021 to 2030, while inflation and higher interest rates will slow in 2023. After exceeding $ 1 trillion in fiscal year 2020, the federal deficit will average $ 1.3 trillion per year Between 2021 and 2030.

The Washington budget deficit peaked at $ 1.4 trillion in FY 2009, not exceeding $ 1 trillion since 2012 and dropping to $ 585 billion at the end of President Barack Obama's second term in 2016.