$15.2-Billion Budget Surplus Posted in June

WASHINGTON — The government had a $15.2-billion surplus in June, new evidence that the 1994 budget deficit is likely to be much smaller than earlier estimates.

The Treasury Department reported Friday that for the first nine months of fiscal year 1994, which began Oct. 1, the deficit was $150.1 billion. That compares to $201.2 billion last year.

The Clinton Administration last week lowered its budget deficit projections for this fiscal year to $220.1 billion, down from an earlier $234.8 billion estimate.

The deficit for all of last year was $254.7 billion.

Analysts said the reduced red ink is due to limits on spending enacted last year and in 1990, higher corporate tax revenues and lower interest rates that have cut federal debt payments and the cost of bailing out failed S&Ls.;