The U.S. Treasury Department released its federal budget data on Tuesday. The budget deficit was $108.0 billion in March, missing expectations for a deficit of $104.0 billion, after a deficit of $109.0 billion in February.

The budget deficit was driven by higher expenditure for military programs, Medicare and other categories.

In the six months of the fiscal year 2016, which ends at September this year, the budget deficit totalled $461.0 billion, up 5.0% from a year ago.