17:09 - 20.09.2024

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September 20, Fineko/abc.az. The level of the public sector debt in the UK, according to preliminary estimates, reached 100% of the country's GDP in August.

ABC.AZ informs with reference to the report of UK’s Office for National Statistics (ONS), such figures were recorded for the first time since the 1960s.

The report notes that net public sector borrowing in August amounted to £13.7 billion ($18.2 billion), which is £2.5 billion ($3.3 billion) more than expected by the Office for Budget Responsibility (OBR).

In total, in the current financial year, which began in April, the volume of public sector borrowing exceeded £64 billion ($85 billion), which is £6 billion ($7.9 billion) higher than the OBR forecast.