Government borrowing in Britain is at its lowest level in three years
LONDON, April 24 / WAM / British government borrowing has fallen to its lowest level in three years, according to the latest Office for National Statistics data.
The office explained that borrowing declined by 19.8 billion pounds to reach 132 billion pounds during the fiscal year ending last March, which is the lowest level since 2022-2023.
The figure was slightly lower than the £132.7 billion forecast by the Office for Budget Responsibility, the government’s independent economic forecaster.
The office indicated that borrowing in March amounted to 12.6 billion pounds, exceeding analysts’ expectations, but it was 1.4 billion pounds less than the same period of the previous year, and the lowest level for the month of March since 2022.
For the fiscal year ending in March, borrowing represented 4.3% of GDP, the lowest level since 2019-2020, that is, before the Covid-19 pandemic.
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