The UK budget deficit reached the second highest level on record for the month of February, the Office for National Statistics reported Friday.
Public sector net borrowing rose by GBP 2.2 billion to GBP 14.3 billion in February, surpassing the expected level of GBP 8.7 billion.
The increase was primarily due to the timing of central bank government debt interest payable.
In February, central government receipts grew 9.3 percent to GBP 95.1 billion. At the same time, central government current expenditure increased 9.6 percent to GBP 92.2 billion due to higher debt interest payable.
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