The U.K. budget deficit narrowed in December, the Office for National Statistics said Friday.
Public sector net borrowing excluding public sector banks decreased GBP 4.3 billion to GBP 7.5 billion in December. The expected level was GBP 10.5 billion.
This decrease in net borrowing was largely due to a decrease in both central and local government net borrowing by GBP 2.8 billion and GBP 1.4 billion, respectively.
In the financial year-to-date, public sector net borrowing excluding banking groups was GBP 74.2 billion, a decrease of GBP 11.0 billion, or 12.9 percent compared with the same period in 2014.
The material has been provided by InstaForex Company – www.instaforex.com