AIRLINK 62.30 Increased By ▲ 1.87 (3.09%)
BOP 5.35 No Change ▼ 0.00 (0%)
CNERGY 4.56 Decreased By ▼ -0.04 (-0.87%)
DFML 15.70 Increased By ▲ 0.86 (5.8%)
DGKC 66.26 Increased By ▲ 1.46 (2.25%)
FCCL 17.44 Increased By ▲ 0.58 (3.44%)
FFBL 27.85 Increased By ▲ 3.10 (12.53%)
FFL 9.32 Increased By ▲ 0.26 (2.87%)
GGL 10.05 Increased By ▲ 0.09 (0.9%)
HBL 105.41 Increased By ▲ 1.20 (1.15%)
HUBC 122.99 Increased By ▲ 5.47 (4.65%)
HUMNL 6.60 Increased By ▲ 0.06 (0.92%)
KEL 4.49 Decreased By ▼ -0.06 (-1.32%)
KOSM 4.45 Decreased By ▼ -0.12 (-2.63%)
MLCF 35.98 Increased By ▲ 0.57 (1.61%)
OGDC 122.85 Increased By ▲ 0.46 (0.38%)
PAEL 23.07 Increased By ▲ 1.16 (5.29%)
PIAA 29.34 Increased By ▲ 2.05 (7.51%)
PIBTL 5.84 Decreased By ▼ -0.10 (-1.68%)
PPL 106.50 Decreased By ▼ -0.87 (-0.81%)
PRL 27.16 Increased By ▲ 0.65 (2.45%)
PTC 18.45 Increased By ▲ 2.35 (14.6%)
SEARL 53.15 Decreased By ▼ -0.48 (-0.9%)
SNGP 63.39 Increased By ▲ 2.19 (3.58%)
SSGC 10.75 No Change ▼ 0.00 (0%)
TELE 9.37 Increased By ▲ 0.88 (10.37%)
TPLP 11.33 Increased By ▲ 0.75 (7.09%)
TRG 71.60 Increased By ▲ 1.69 (2.42%)
UNITY 23.75 Increased By ▲ 0.24 (1.02%)
WTL 1.29 Increased By ▲ 0.01 (0.78%)
BR100 6,942 Increased By 64.5 (0.94%)
BR30 22,815 Increased By 246.3 (1.09%)
KSE100 67,114 Increased By 566.3 (0.85%)
KSE30 22,087 Increased By 172.6 (0.79%)

LONDON: British public borrowing surged again in August to a record high, driven by huge outlays to combat the coronavirus pandemic, with the budget deficit so far this tax year overtaking its full-year peak during the global financial crisis.

The government has now borrowed 173.7 billion pounds ($221.8 billion) in the five months since the start of the financial year in April, outstripping the previous record of 157.7 billion pounds set in the 12 months ending March 2010.

Government budget forecasters have warned the deficit could hit 372 billion by the end of the tax year, raising borrowing as a share of gross domestic product to 18.9%, a level not seen since World War Two - far above long-term sustainable rates.

Finance minister Rishi Sunak said on Thursday that now was the time to focus on restoring growth, not reducing borrowing, but tough decisions would be needed in the longer term.

Comments

Comments are closed.