The budget deficit in the UK widened to GBP 6.50 billion in June of 2019 from GBP 2.68 billion in the same month of the previous year and compared to market expectations of a GBP 3.20 billion shortfall. Excluding state-controlled banks, the gap rose to GBP 7.15 billion from GBP 3.32 a year ago, the highest June borrowing since 2015. Borrowing in the latest full financial year (April 2019 to June 2019) totalled GBP 17.9 billion, more GBP 4.5 billion than in the same period last year; remaining the lowest borrowing for that period since 2007. Debt went up by GBP 27.0 billion from a year earlier to GBP 1,818.1 billion, equivalent to 83.1 percent of gross domestic product. Government Debt in the United Kingdom averaged -4003.54 GBP Million from 1993 until 2019, reaching an all time high of 14532 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 -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.