WASHINGTON -- The Office of Management and Budget yesterday predicted a significant improvement in the federal budget deficit, with the yearly shortfall dropping to well below $200 billion starting in 1996, largely as a result of the enactment of President Bill Clinton's budget plan.

In its mid-session budget review, the OMB projected the deficit falling to $200.4 billion by fiscal 1995, after reaching %285.3 billion in the current fiscal year ending Sept. 30 and $259.4 billion in 1994.

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