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Financial News: UK Budget Deficit Widens In June

UK Budget Deficit Widens In June

07/21/2020 - 03:02:00 (RTTNews)

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

Public sector net borrowing excluding public sector banks increased GBP 28.3 billion to GBP 35.5 billion, which was the third highest deficit in any month on records.

Borrowing for May was revised down by GBP 9.8 billion to GBP 45.5 billion.

Central government net cash requirement in June was GBP 47.1 billion, which was GBP 33.6 billion more than in June 2019 and the highest cash requirement in any June on record. At the end of June, public sector net debt excluding public sector banks increased by GBP 195.5 billion from last year to GBP1,983.8 billion.

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