Britain’s public debt reaches 99.2% of GDP for the first time since the early 1960s – Kommersant
[ad_1]
In April, the UK public debt reached £2.54 trillion, which is 99.2% of the country’s gross domestic product (GDP), according to report National Bureau of Statistics. The last time the ratio of public debt to GDP was higher was in 1961, when this figure was 99.4%.
Public sector net borrowing (excluding state-owned banks) totaled £25.6bn in April, up £11.9bn from April 2022. This is the second highest figure for this month since 1993. At the same time, economists polled by Reuters predicted that the volume of borrowing by the end of April would amount to £19.75 billion.
The volume of interest that the government is obliged to pay on its debt obligations rose by the end of the month to £9.8 billion. This is a record figure for the entire period of keeping statistics, that is, since 1997, it is £3.1 billion more than in the past year.
[ad_2]
Source link
