2023-04-25 14:49:40
The accumulated net debt of the British Government stood at 2.5 trillion pounds (2.8 trillion euros) at the end of March, a 99.6% of the Gross Domestic Product (GDP) of the countrya percentage not seen since the early 1960s, according to figures released this Tuesday.
The National Statistics Office (ONS) published this data by releasing the debt figures for March in a statement today.
During that month, Government debt reached 21.5 billion pounds (24,277 million euros), an increase of 16,300 million pounds (18,400 million euros) compared to the previous year, and the second highest debt figure for a month of March in since 1993.
The ONS indicated that the net indebtedness of the public sector accumulated for the fiscal year that ended last March was initially estimated at 139,200 million pounds (157,132 euros or 5.5% of GDP), 18,100 million pounds (20,777 euros) plus than that registered in March 2022 and the fourth highest debt figure since 1946.
The annual figure was also 13.2 billion pounds (14,900 euros) lower than forecast last month by the Office for Budget Responsibility (OBR).
“These numbers reflect the inevitable consequences of borrowing exorbitant amounts to help families and businesses through the pandemic and energy crisis. promoted by (Russian President Vladimir) Putin,” British Economy Minister Jeremy Hunt said today.
The Tory incumbent noted that the government “now has a clear plan to lower the debt, which will reduce the financial pressure we put on our children and grandchildren.”
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