U.K. Budget Deficit Narrows In December

The U.K. budget deficit narrowed by GBP 2.1 billion from the previous year to GBP 12.1 billion in December, the Office for National Statistics showed Wednesday. The deficit was below the expected level of GBP 14 billion.

There was no transfer from Bank of England Asset Purchase Facility Fund to treasury in December.

For the financial year to date 2013/14, public sector net borrowing excluding temporary effects of financial interventions was GBP 83.9 billion. This was GBP 11 billion higher than the same period in 2012/13, when it was GBP 72.9 billion.

Public sector net debt excluding temporary effects of financial interventions was GBP 1,254.3 billion at the end of December 2013, which was equivalent to 75.7 percent of gross domestic product.

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

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