UK Public Sector Net Borrowing Increases In August

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UK's public sector net borrowing totaled GBP 16.1 billion in August, up from GBP 9.9 billion recorded during the same period of the last year, the Office for National Statistics reported Friday. The net borrowing in August was smaller than the expected level of GBP 17.6 billion. The Budget forecast for 2009/10 is net borrowing of GBP 175 billion.

Meanwhile, the public sector net cash requirement was GBP 10.4 billion, a GBP 5.3 billion higher net cash requirement than in August 2008. The public sector current budget was in GBP 12.8 billion deficit in August, larger than last year's GBP 7.7 billion deficit.

UK's public sector net borrowing increased to GBP 16.1 billion in August from GBP 9.9 billion recorded during the same period of the last year, the Office for National Statistics reported Friday. (Market News Provided by RTTNews)