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Financial News: UK Budget Deficit Widens In August

UK Budget Deficit Widens In August

09/21/2018 - 04:41:00 (RTTNews)

(RTTNews) - The UK budget deficit increased in August, data from the Office for National Statistics showed Friday.

Public sector net borrowing, excluding public sector banks, rose by GBP 2.4 billion from last year to GBP 6.8 billion in August. This was the largest August borrowing for two years.

At the end of August, public sector net debt excluding public sector banks totaled GBP 1.78 trillion or 84.3 percent of gross domestic product. Debt increased by GBP 15.9 billion from a year ago.

In the current financial year-to-date period, PSNB excluding interventions was GBP 17.8 billion, which was GBP 7.8 billion less than in the same period in 2017. This was the lowest year-to-date borrowing for 16 years.

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