The UK government posted a total net borrowing surplus of GBP 0.664 billion in February of 2019, compared with a GBP 0.364 billion deficit in the corresponding month of the previous year and above market expectations of a GBP 0.05 billion surplus. Excluding state-controlled banks, the surplus decreased to GBP 0.2 billion from GBP 1.2 billion a year earlier, the lowest February borrowing since 2017. Since the start of the financial year in April, borrowing totalled GBP 23.1 billion, down by GBP 18 billion from February of 2018 and the lowest year-to-date net borrowing in 17 years. Debt rose by GBP 22.7 billion from a year earlier to GBP 1.79 trillion at the end of February, equivalent to 82.8 percent of GDP. Government Debt in the United Kingdom averaged -3994.97 GBP Million from 1993 until 2019, reaching an all time high of 14148 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 -1240.00 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 -2840.00 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.