3/21/2025–|Last update: 3/21/202505:27 PM (Mecca time)
The British budget deficit over the past month exceeded estimates with high spending, according to the numbers of the statistical office issued today, Friday.
The public sector borrowing during last February increased to 10.7 billion pounds (13.84 billion dollars) compared to 10.6 billion pounds (13.71 billion dollars) during the same month last year, while analysts expected borrowing to decrease to 7 billion pounds (9.05 billion dollars).
The general borrowing last February is the fourth largest borrowing since the start of the registration of this data in 1993, and the budget responsibility office estimated it and was 6.5 billion pounds (8.41 billion dollars).
This data came before the statement of the British Treasury Secretary Rachel Reeves for the Spring Chapter scheduled for March 26, where Reeves is scheduled to provide an update on the state of the economy and progress that has been achieved since the announcement of the autumn budget.
The statistical office data indicated that public spending increased during the past month by 3.8 billion pounds (4.91 billion dollars) to reach 93 billion pounds (120.28 billion dollars). Meanwhile, revenues increased by 3.2 billion pounds (4.14 billion dollars) to reach 87.7 billion pounds (113.43 billion dollars).
The total borrowing in the fiscal year ending last February was 132.2 billion pounds (171 billion dollars), an increase of 14.7 billion pounds from the previous fiscal year.
The borrowing recorded the third level in the fiscal year ending last February since the start of the data registration in 1993.
The Bank of England (the British Central Bank) had proven yesterday, Thursday, at 4.5%, and warned against expectations to reduce them amid the deep uncertainty that prevailed over the British and global economies.
With the escalation of global trade tensions due to the United States, the Monetary Policy Committee voted by the Central Bank of England by eight to one in favor of keeping borrowing costs unchanged.
