2010.08.1905:53:00UTC+00U.K. Public Sector Net Borrowing Falls In July

U.K. public sector net borrowing, including financial interventions totaled GBP 3.2 billion in July, down from GBP 5.5 billion in the same period of last year, the Office for National Statistics reported Thursday. The expected level was GBP 4.8 billion.

Excluding financial interventions, net borrowing was GBP 3.8 billion. This was GBP 2.3 billion lower than in July 2009, when net borrowing was GBP 6.1 billion. Public sector net debt at the end of July was GBP 816.2 billion, equivalent to 56.1% of GDP.

The public sector current budget was in deficit by GBP 0.5 billion, which was a GBP 3.3 billion lower deficit than in July 2009, when there was a deficit of GBP 3.8 billion.

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