Economic news

UK’s budget gap widens in October

Britain’s fiscal deficit unexpectedly widened to 8.0 billion pounds in October, up 6.9 percent compared with a year earlier, the Office for National Statistics reported.

Increasing debt costs due to UK higher inflation since the Brexit vote, were a main reason of the shortfall.

However, in the first seven months of the financial year, public sector net borrowing has dropped by 9.6 percent to 38.5 billion pounds, the ONS said.


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