UK's budget deficit jumps 32.6% in fiscal Q1

Friday, 19. July 2019 10:49

Net borrowing of the public sector advanced £3.8 billion to £7.2 billion on an annual scale last month and £4.5 billion to £17.9 billion in the first three months of the financial year from the same period in 2018, the Office for National Statistics of Britain said on Friday. The measure of current budget deficit, which excludes public sector banks, showed the highest level since 2015 and the lowest since 2007, respectively. Public sector net borrowing in the last full financial year has dropped by £18.3 billion to £23.5 billion, the least in 17 years.

Net debt last month was £1.8181 trillion or 83.1% of the gross domestic product, adding £27 billion year over year, but actually subtracting 1.5 percentage points from the tally. The Office for Budget Responsibility expects £1.8382 trillion for the twelve months through March 2020, a rise of £36.1 billion and a decline by 0.8 points of GDP.

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