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UK public sector net borrowing lowest in 10 years

Staff Writer |
Data released by the Office for National Statistics revealed that the government borrowed the lowest amount in 10 years in February.

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UK public sector net borrowing decreased by £2.8bn in February to £1.8bn, marking the lowest February borrowing since 2007 and below forecasts for £3.2bn.

Borrowing was down £19.9bn to £47.8bn in the current financial year-to-date, compared with the same period in the previous year. This was the lowest YTD borrowing since the financial ending February 2008.

Public sector net debt excluding state-owned banks came in at 85.4% of gross domestic product, up £111.1bn or 2.3 percentage points as a ratio of GDP since February 2016.

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