1. All Stories
  2. Politics
  3. Economy
  4. World
  5. Nuclear
  6. Society/Culture
  7. Space/Science
  8. Sports
  9. Tourism
  10. Other Media
  11. Videos
  12. Photos
  13. Cartoons
  14. Interview
    • فارسی
    • عربی
    • Türkçe
    • עברית
    • Pусский
  • RSS
  • Telegram
  • Instagram
  • Twitter
  • Facebook
  • All Stories
  • Politics
  • Economy
  • World
  • Nuclear
  • Society/Culture
  • Space/Science
  • Sports
  • Tourism
  • Other Media
  • Videos
  • Photos
  • Cartoons
  • Interview

High Inflation Helps to Swell UK Budget Deficit in April

  • May, 23, 2023 - 11:47
  • Other Media news
High Inflation Helps to Swell UK Budget Deficit in April

TEHRAN (Tasnim) – Britain recorded a larger-than-expected budget deficit in April, as interest accrued on inflation-linked government bonds pushed the debt interest bill for the month to a new record, official data showed on Tuesday.

Other Media

Public sector net borrowing, excluding state-owned banks, rose in April to 25.56 billion pounds ($32.26 billion), the Office for National Statistics said, Reuters reported.

A Reuters poll of economists had pointed to public sector net borrowing, excluding state-owned banks, of 19.75 billion pounds.

In April, Britain added 9.8 billion pounds to its debt interest bill - the highest total for the month since comparable records started in 1993 and largely reflecting interest payable on inflation-linked government bonds.

Britain's rate of consumer price inflation was the highest in Western Europe in March, remaining above 10%. Data on Wednesday are expected to a show a sharp drop in April, to around 8.2%, according to the Reuters poll consensus.

The ONS revised down its estimate for the budget deficit in the 2022/23 financial year that ended in March to 137.1 billion pounds, from 139.2 billion pounds previously.

In March the Office for Budget Responsibility forecast that borrowing in 2022/23 would settle at 152.4 billion pounds, 15.3 billion pounds more than the ONS estimate.

"Debt and borrowing remain too high now - which is why it's one of our priorities to get debt falling," finance minister Jeremy Hunt said in response to the data.

 
R7839/P
Read more
UK Public Inflation Expectations Eased in April: Citi/YouGov
tasnim
tasnim
tasnim
  • About
  • Contact Us
  • Most Visited
  • Archive
Follow Us:
  • RSS
  • Telegram
  • Instagram
  • Twitter
  • Facebook

All Content by Tasnim News Agency is licensed under a Creative Commons Attribution 4.0 International License.