RTTNews - UK's public sector net borrowing was GBP 8.5 billion in April, up GBP 6.6 billion than in the previous year, when there was net borrowing of GBP 1.8 billion, the Office for National Statistics said Thursday. Meanwhile, economists had expected an increase of GBP 2.5 billion.
At the same time, public sector net cash requirement in April was GBP 5.2 billion, an increase of GBP 8 billion net cash requirement than in April 2008, when there was a net repayment of GBP 2.9 billion.
Further, the statistical office said the public sector current budget was in deficit by GBP 7 billion. This is a GBP 6.3 billion higher deficit than it was in the previous year.
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