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Britain's public debt rises due to epidemic effect

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The UK's public borrowing in October rose by £ 10.8 billion compared to the same period last year, to £ 22.3 billion.

NEWS IN ENGLISH 21.11.2020, 15:09 14.04.2021, 03:58 ALP ERMIYA
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Britain's public debt rises due to epidemic effect
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Britain's public debt rose to £ 22.3 billion in October.

According to data from the British Office of National Statistics (ONS), the country's public borrowing increased by £ 10.8 billion compared to the same period last year, reaching £ 22.3 billion in October.

In the ONS statement, it was reminded that the new type of coronavirus (Kovid-19) epidemic had a remarkable effect on the increase in public borrowing need.

With the latest data, Britain's public debt has increased by £ 169.1 billion compared to the same period last year, reaching a total of £ 214.9 billion since April.

Britain's total public debt reached £ 2.08 trillion, reaching 100.8 percent of the country's Gross Domestic Product (GDP) as of the end of October.

Public debt at this level has not been seen in Britain since the early 1960s.

The ongoing quarantine practice, support of employees with paid leave program, decrease in tax revenues from the private sector increase the borrowing need of the British economy.

British Finance Minister Rishi Sunak said last week that 200 billion pounds had been spent so far to mitigate the economic effects of the epidemic.

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