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UK govt deficit for calendar 2006 drops to 2.7 pct of GDP


Published : Fri, 30 Mar 2007 10:25
By : Agencies
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LONDON (AFX) - The UK government's net borrowing slipped back within the confines of the Maastricht Treaty for the first time in four years for the calendar year 2006, official figures showed.

The Office for National Statistics estimated borrowing at 35.4 bln stg or 2.7 pct of GDP for the calendar year 2006. In 2005, borrowing stood at 3.0 of GDP or 37.4 bln stg.

It must be noted, however, that the EU assesses the UK based on the financial year ending in April, not the calendar year.

Estimates for the latest completed financial year, 2005/6, show net borrowing at 2.8 pct of GDP.

sivakumar.sithraputhran@thomson.com

ss/lam

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