The U.S. budget deficit for the first five months of fiscal 2025 hit a record $1.147 trillion, the Treasury Department said on Wednesday, including a $307 billion February deficit for President Donald Trump's first full month in office that was up 4% from a year earlier.

The U.S. debt and deficit problem worsened during President Donald Trump's first month in office, as the budget shortfall for February passed the $1 trillion mark even though the fiscal year is not yet at the halfway point.

Data disclosed by the Treasury Department showed an adjusted gap between federal spending and revenue of $1.063 trillion for October through February.

The deficit for the first five months of fiscal 2025 came to $1.147 trillion, up 38%, or $318 billion, from a year earlier.

(Reuters) - Russia's budget deficit widened to 1.3% of gross domestic product (GDP) in the first two months of 2025, or 2.70 trillion roubles ($31.45 billion), the finance ministry said on Tuesday, as government spending remained elevated.