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MNI DATA BRIEF: UK's 20/21 Overall Borrowing Revised Lower

LONDON (MNI)

UK government borrowing for the latest fiscal year was revised downward for the second straight month, to GBP299.171 billion, pushing borrowing further below the OBR's like-for-like target of GBP327.4 billion, the Office for National Statistics said Tuesday.

The adjusted target includes GBP27.2 billion in covid-related loan write offs not yet reflected in ONS figures, leaving the OBR with a headline target of GBP355 billion. That debt ratio was unchanged from from previous reports at 97.4% of GDP, although the debt ratio increased to 99.2% in the month of May. As a percentage of GDP, the 2020/21 deficit remained at 14.3%, unchanged from a month earlier.

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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