WASHINGTON — The U.S. budget deficit through the first five months of this budget year is up 14.8 percent from the same period a year ago, keeping the country on track to record its first $1 trillion deficit since 2012.

The Treasury Department said Wednesday in its monthly budget report that the deficit from October through February totaled $624.5 billion, $80.3 billion higher than the same period a year ago.

The deficit so far this year reflects government spending that has grown by 9.2 percent compared to the first five months of the 2019 budget year while revenues are up a smaller 6.9 percent.

When President Donald Trump sent Congress his new budget last month he projected that the deficit for this year would hit $1.08 trillion but will then decline for the rest of this decade.

The forecast were made before the coronavirus spread to the United States, a development that is likely to trigger sharp declines in tax revenue.