Washington, D.C. – The U.S. Department of the Treasury revealed its latest projections for privately-held net marketable borrowing for the second and third quarters of 2024. In the April-June 2024 period, the Treasury anticipates borrowing $243 billion in privately-held net marketable debt, with an estimated end-of-June cash balance of $750 billion. This borrowing estimate represents a $41 billion increase from the previous announcement in January 2024, attributed to lower cash receipts offset by a higher beginning cash balance at the start of the quarter.
Moving on to the July-September 2024 quarter, the Treasury plans to borrow $847 billion in privately-held net marketable debt, assuming an end-of-September cash balance of $850 billion. Looking back at the first quarter of 2024, the Treasury borrowed $748 billion in privately-held net marketable debt, concluding the period with a cash balance of $775 billion. Interestingly, the borrowing in January-March 2024 was $12 billion lower than initially projected, mainly due to higher cash receipts and lower expenses, offset by a $25 billion increase in the ending cash balance.
Moreover, the Treasury will disclose additional financing details related to its Quarterly Refunding on Wednesday, May 1, 2024, at 8:30 a.m. These updates provide crucial insights into the government’s financial operations and borrowing plans, offering transparency to stakeholders and the public regarding economic strategies and forecasts. The Treasury’s careful management of marketable borrowing reflects its commitment to balancing financial needs with prudent fiscal measures, ensuring stability and predictability in the nation’s economic landscape.
In the midst of evolving economic conditions and global uncertainties, the Treasury’s borrowing projections serve as a vital indicator of the government’s fiscal health and strategic priorities. By carefully monitoring marketable debt and cash balances, the Treasury can adapt its financial strategies to meet changing demands and challenges, safeguarding the country’s economic resilience and stability. With an eye towards sustaining growth and managing risks, these projections offer valuable insights into the Treasury’s ongoing efforts to navigate a complex financial landscape with confidence and foresight.