Economic Buzz: UK Budget Logs GBP 20 Billion Deficit In September

21 Oct 2022 , 02:24 PM

The UK budget deficit reached its second highest September level since the monthly records began in 1993, the Office for National Statistics reported. Excluding public sector banks, public sector net borrowing was GBP 20.0 billion in September, which was GBP 2.2 billion more than in September 2021. The expected deficit was GBP 17.1 billion. In the financial year to September, PSNB narrowed by GBP 24.9 billion to GBP 72.5 billion, ONS figures showed. At the end of September, the public sector net debt excluding public sector banks was GBP 2,450.2 billion, or around 98.0 percent of gross domestic product. Debt has reached levels last seen in the early 1960s.Powered by Commodity Insights