Mumbai, April 23 -- The UK budget deficit far exceeded the government estimates in the fiscal year ended March, official data revealed on Wednesday.
Public sector net borrowing in the financial year ending March rose by GBP 20.7 billion to GBP 151.9 billion, the Office for National Statistics reported.
This was the third highest borrowing on record since 1947 and also stood above the GBP 137.3 billion forecast by the Office for Budget Responsibility in March.
In March alone, public sector net borrowing was GBP 16.4 billion, which was above economists' forecast of GBP 15.4 billion.
At the end of March, the net debt-to-GDP ratio was estimated at 95.8 percent.
Published by HT Digital Content Services with permission from Capital Market....