Mubasher: The UK’s public sector net borrowing, excluding public banks, registered a record surplus GBP 14.9 billion ($19.48 billion) in January, which is GBP 5.6 billion ($7.32 billion) higher than the surplus achieved in the same period of 2018.
Public sector net debt, excluding public banks, surged by GBP 40.5 billion to GBP 1.782 trillion year-to-date in January, compared to the corresponding period of 2018, according to data released by the Office for National Statistics (ONS) on Thursday.
Meanwhile, public sector net debt, excluding public banks and the Bank of England (BOE), levelled up GBP 26.9 billion on a yearly basis to GBP 1.596 trillion in the first month of 2019.
During April 2018 to January, central government net cash requirement fell GBP 5.7 billion to GBP 15.2 billion, compared to the corresponding period a year earlier, the ONS stated.
UK public sector net borrowing dropped GBP 18.5 billion to GBP 21.2 billion from last April to January, compared to the year-ago period, recording the lowest level since 2001.
By 10:27 am, the GBP/USD rose 0.14% to $1.3068, while EUR/GBP went down 0.14% to GBP 0.8675.