Britain's public net borrowing hits USD22.61b in May


(MENAFN) The Office for National Statistics said that British public sector borrowing reached USD22.61 billion in May, USD7.83 billion higher than May 2013, Xinhua reported. Meanwhile, the country's public deficit is also higher than market expectation consensus of USD20.75 billion ONS said. In the fiscal year to date 2013/14, the country's public sector net borrowing was USD161.47 billion, which is USD42.1 billion bigger than the same period in 2012/13. "While the economic recovery may now be fairly strong, it still appears to be struggling to have much of an impact on the borrowing numbers," senior UK Economist at Capital Economics said.


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