The UK government posted a deficit of GBP 4.97 billion in April 2019, little changed from a GBP 5.0 billion gap in the same month of the previous year and slightly below market expectations of a GBP 5.1 billion shortfall. This was the lowest April net borrowing since 2007. Excluding state-controlled banks, the gap decreased to GBP 5.8 billion from GBP 5.83 a year earlier. Borrowing in the latest full financial year (April 2018 to March 2019) totalled GBP 23.5 billion, down by GBP 18.3 billion from the previous financial year and was the lowest year-to-date net borrowing in 17 years. Debt rose by GBP 20.5 billion from a year ago to GBP 1.80 trillion at the end of April, equivalent to 82.7 percent of GDP. Government Debt in the United Kingdom averaged -3984.10 GBP Million from 1993 until 2019, reaching an all time high of 15155 GBP Million in January of 2019 and a record low of -19956 GBP Million in April of 2012.
Government Debt in the United Kingdom is expected to be -3210.00 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Debt in the United Kingdom to stand at -1120.00 in 12 months time. In the long-term, the United Kingdom Public Sector Net Borrowing is projected to trend around -2440.00 GBP Million in 2020, according to our econometric models.