UK July govt borrowing £4.3bn - ONS

(Sharecast News) - UK government borrowing came in at £4.3bn in July and lower-than-expected for the first four months of the year, according to official data released on Tuesday.

Economists had expected a deficit of £5bn for last month. In the first four months of the financial year, borrowing stood at 56.6 billion pounds, £13.7bn higher year on year but £11.3bn less than the Office for Budget Responsibility forecast in March.

The Office for National Statistics added that net debt stood at £2.58trln at the end of July, equal to around 98% of the UK's gross domestic product and 1.9% higher than a year earlier.

Reporting by Frank Prenesti for Sharecast.com