Europe Economy

UK Public Sector Debt at 60% of GDP in February


Public sector debt in the United Kingdom climbed above 60 percent of GDP in February as government agencies borrowed another 12.4 billion pounds ($19 billion), the Office for National Statistics said Thursday.

The February borrowing raised total net debt to 857.7 billion pounds, equal to 60.3 percent of gross domestic product, up from 59.9 percent in January and from 50.5 percent a year earlier.

For the financial year to date (April-February), the public sector current budget deficit is 94.7 billion pounds compared to 37.4 billion pounds a year earlier.

Net borrowing for the fiscal year to date is 131.9 billion pounds, up from 66.5 billion pounds a year earlier.