Britain’s budget deficit rose to a maximum

Britain’s budget deficit rose to a maximum

Britain’s budget deficit rose more sharply than expected last month, setting a record for the month.

The reason is the state’s high spending on programs aimed at helping companies and households struggling with high energy prices. This was stated on Tuesday by the British Statistical Office, reports the portal RTTNews.

The state budget deficit reached 16.7 billion pounds (19.07 billion euros) in February. This represents an increase of £9.6 billion compared to February last year. The value of the deficit, which exceeded the expectations of analysts (they counted on a deficit at the level of 11.4 billion pounds), is the highest for the month of February since the registration of relevant records began in 1993.

For the entire fiscal year, which began in April last year, the budget deficit in Britain reached 132.2 billion pounds. This represents an increase of £15.5bn compared to the same period in the previous financial year.

At the same time, the Statistical Office published data on the development of public debt. Britain’s debt reached almost 2.51 trillion pounds at the end of February. This represents approximately 99.2 percent of the gross domestic product.

(1 EUR = 0,8756 GBP)

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