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UK Budget Deficit Widens Notably In October

The UK budget deficit widened more than expected in October, data from the Office for National Statistics showed Thursday.

Public sector net borrowing excluding public sector banks, increased by GBP 2.3 billion from the last year to GBP 11.2 billion in October. The expected level was GBP 9.3 billion.

Also, this was the highest October borrowing for five years.

In the current financial year-to-date, borrowing was GBP 46.3 billion, which was GBP 4.3 billion more than in the same period last year.

Further, data showed that public sector net debt excluding banks totaled GBP 1,798.5 billion or 80.4 percent of gross domestic product at the end of October 2019.

The material has been provided by InstaForex Company – www.instaforex.com