Market Commentary and Intraday News

UK Public Sector Borrowing Rises In July

277 days ago

(RTTNews) - The U.K. public sector net borrowing, excluding the temporary effects of financial interventions, (PSNB ex) increased in July, data from the Office for National Statistics showed Tuesday.

Net borrowing was GBP 0.6 billion in July, which was GBP 3.4 billion higher than in July last year when PSNB was -GBP 2.8 billion.

In 2011-12, PSNB ex was GBP 125 billion, which was GBP 15.7 billion lower than in 2010-11.

At the end of July 2012, the public sector net debt, excluding the temporary effects of financial interventions, (PSND ex) was GBP 1032.4 billion or 65.7 percent of GDP.

This compares to a PSND ex of GBP 940 billion or 61.8 percent of GDP at the end of July 2011.

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