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Financial News: UK Nov Budget Deficit Narrows In November

UK Nov Budget Deficit Narrows In November

12/21/2017 - 04:45:00 (RTTNews)

(RTTNews) - The UK budget deficit narrowed in November, data from the Office for National Statistics showed Thursday.

Public sector net borrowing excluding public sector banks, decreased GBP 0.2 billion to GBP 8.7 billion in November. This was the lowest November net borrowing since 2007. The expected level was GBP 9 billion.

During April to November 2017, the budget deficit decreased by GBP 3.1 billion to GBP 48.1 billion. This was also the lowest year-to-date net borrowing since 2007.

The Office for Budget Responsibility forecast PSNB to reach GBP 49.9 billion during the financial year ending March 2018.

Public sector net debt, excluding public sector banks was GBP 1,734.8 billion at the end of November 2017, equivalent to 84.6 percent of gross domestic product.

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