ব্যঙ্গাত্মক বর্ণনা এবং ফরেক্সের প্রবেশদ্বার বিন্যাস
UK national debt reaches 100% of GDP
The UK's national debt has hit 100% of its annual GDP for the first time since the 1960s.
According to the Office for National Statistics (ONS), the UK’s debt-to-GDP ratio climbed from 99.3% in August to a whopping 100%.
In August alone, the government borrowed £13.7 billion, which is £2 billion more than the Office for Budget Responsibility (OBR) had forecast. Experts are a bit worried. The total borrowing for this financial year has already reached £64.1 billion, exceeding the OBR’s predictions by £6 billion.
"Borrowing was up by over £3 billion last month on 2023’s figure and was the third highest August borrowing on record," ONS chief economist Grant Fitzner said.
“Central Government tax receipts grew strongly, but this was outweighed by higher expenditure, largely driven by benefits uprating and higher spending on public services due to increased running costs and pay,” he added.
Specialists believe the government now has to unravel the mess created by the massive rise in national debt. For the first time in decades, it has hit 100% of the economy's total output. To make things worse, economic growth is stalling, and consumer confidence is sinking fast as tough budget decisions loom over the horizon.
প্রকাশিত 25 September 2024
© InstaFintech Group
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© InstaFintech Group
