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UK budget deficit narrows in August

Staff Writer |
The UK budget deficit decreased to its lowest August level since 2007, data from the Office for National Statistics showed Thursday.

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Public sector net borrowing excluding interventions decreased by GBP 1.3 billion to GBP 5.7 billion in August. This was the lowest August borrowing since 2007.

In the current financial year-to-date period, PSNB fell GBP 0.2 billion to GBP 28.3 billion.

The Office for Budget Responsibility forecast the PSNB will be GBP 58.3 billion during the financial year ending March 2018.

Public sector net debt totaled GBP 1,773.3 billion at the end of August, which was equivalent to 88.0% of gross domestic product, an increase of GBP 150.9 billion on August 2016.


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