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Financial News: UK Budget Deficit Narrows In September

UK Budget Deficit Narrows In September

10/20/2017 - 04:43:00 (RTTNews)

(RTTNews) - The UK budget deficit declined in September, the Office for National Statistics said Friday.

Public sector net borrowing, excluding public sector banks, decreased by GBP 0.7 billion from the previous year to GBP 5.9 billion in September. This was the lowest September net borrowing since 2007.

During April to September period, PSNB decreased by GBP 2.5 billion to GBP 32.5 billion, which was the lowest year-to-date net borrowing since 2007.

The Office for Budget Responsibility forecast that public sector net borrowing will be GBP 58.3 billion during the financial year ending March 2018.

Data showed that public sector net debt totaled GBP 1,785.3 billion at the end of September, equivalent to 87.2 percent of gross domestic product.

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