31 March 2006, 13:20  UK 2005 Net Borrowing 3.6% Of GDP

The U.K. government's net borrowing as percentage of the economy rose further above the European Union's limit in 2005, according to data from National Statistics released Friday. NS said that net borrowing was 3.6% of U.K. gross domestic product in 2005, up from 3.2% in 2004, as measured under the terms of the Maastricht Treaty. The figures come after the European Union in February launched so-called 'excessive deficit' procedures against the U.K., asking the government to bring net borrowing below 3% of GDP by fiscal year 2006-7.

© 1999-2024 Forex EuroClub
All rights reserved