U.K. public sector net borrowing decreased in June from last year, the Office for National Statistics said Tuesday.
Excluding public sector banks, PSNB dropped GBP 0.8 billion to GBP 9.4 billion in June. It was equivalent to 0.5 percent of gross domestic product.
This decline in net borrowing was largely due to an increase of GBP 0.1 billion in central government net borrowing, combined with a decrease of GBP 1 billion in local government net borrowing.
Public sector net debt excluding public sector banks at the end of June was GBP 1,513.4 billion or 81.5 percent of GDP, an increase of GBP 77.4 billion compared with last year.
Further, data revealed that public sector net borrowing excluding public sector banks decreased by GBP 6.1 billion to GBP 25.1 billion in the current financial year April to June period compared to the same period in 2014.
The material has been provided by InstaForex Company – www.instaforex.com