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MNI BRIEF: UK Debt-to-GDP Ratio Soars On Pandemic Hit​

LONDON (MNI)

Underlining the fiscal challenges UK authorities face in the wake of the Covid-19 pandemic, the country's debt-to-GDP ratio soared to a 60-year high in September, data released Wednesday by the Office for National Statistics showed.

Public debt (public sector net debt excluding public sector banks, PSND ex) rose by £259.2 billion in the first six months of the financial year to reach £2,059.7 billion at the end of September 2020, or around 103.5% of gross domestic product (GDP); this was the highest debt to GDP ratio since the financial year ending (FYE) 1960.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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