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UK December Budget Deficit Larger Than Expected

UK budget deficit for December exceeded economists' expectations and was the second lowest figure for the month in 18 years, figures from the Office for National Statistics showed Tuesday.

The public sector net borrowing, or PSNB, was GBP 3 billion in December, which was GBP 0.3 billion more than a year ago. Economists had forecast borrowing of GBP 1.9 billion.

That was the lowest December borrowing for 18 years, save for a GBP 2.7 billion borrowing in December 2017.

The PSNB was GBP 35.9 billion in the year-to-date period, which was GBP 13.1 billion less than the same period in 2017. That was also the lowest year-to-date figure for 16 years.

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