LONDON (dpa-AFX) - The UK budget balance logged a surplus in January, the Office for National Statistics said on Tuesday.
Public sector net borrowing excluding public sector banks showed a surplus of GBP 2.9 billion in January, which was GBP 5.4 billion less borrowing than in January 2021.
Nonetheless, this was still a GBP 7.0 billion smaller surplus than in January 2020, before the coronavirus pandemic.
In the financial year-to-January 2022, PSNB excluding banks was GBP 138.5 billion, the second-highest financial year-to-January borrowing since monthly records began in 1993.
Further, data showed that public sector net debt excluding public sector banks was GBP 2,317.6 billion at the end of January, or around 94.9 percent of gross domestic product, maintaining a level not seen since the early 1960s.
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