The budget deficit in the UK narrowed to GBP 5.8 billion in August 2019 from GBP 6.3 billion in the same month of the previous year and compared to market expectations of a GBP 6.65 billion gap. Excluding state-controlled banks, the public sector net borrowing was GBP 6.4 billion, GBP 0.5 billion less than in August 2018 and below forecasts of GBP 7.15 billion. Borrowing in the current financial year-to-date was GBP 31.2 billion, up 28 percent from the same period in 2018. Government Debt in the United Kingdom averaged -4356.92 GBP Million from 1993 until 2019, reaching an all time high of 12255 GBP Million in January of 2019 and a record low of -21053 GBP Million in April of 2012.
Government Debt in the United Kingdom is expected to be -3200.00 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 -3780.00 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.