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Financial News: UK April Net Borrowing Monthly Lowest Since 2007

UK April Net Borrowing Monthly Lowest Since 2007

05/22/2019 - 05:23:00 (RTTNews)

(RTTNews) - UK's public sector net borrowing in April was the lowest for the month since 2007, preliminary data from the Office for National Statistics showed on Wednesday.

Public sector net borrowing, or PSNB, excluding public sector banks was GBP 5.8 billion, which was 0.03 billion less than a year ago.

Net borrowing was the lowest for April since 2007, the ONS said. In March, the borrowing showed a surplus of GBP 94 million.

Total net borrowing was GBP 5 billion in April versus a surplus of GBP 958 million in March. Economists had forecast borrowing of GBP 5.1 billion.

The public sector net cash requirement, or PSNCR, was minus GBP 7.1 billion in April versus GBP 8.8 billion in March.

The central government NCR was minus GBP 9.8 billion versus GBP 22.1 billion in March.

The public sector net debt excluding public sector banks at the end of April was GBP 1,797.7 billion or 82.7 percent of GDP. The debt figure rose by GBP 20.5 billion from a year ago.

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