UK Gov't Borrowing Rises To USD 13.84 Bln

(MENAFN- Kuwait News Agency (KUNA)) LONDON, March 21 (KUNA) -- UK government borrowing was higher than expected in February, adding pressure to Chancellor Rachel Reeves ahead of her Spring Statement next week.
Borrowing - the difference between spending and income from taxes - was آ£10.7 billion (USD 13.84 billion) last month, according to official figures.
Government borrowing last month was آ£ 100 million more than at this point last year, with the deficit higher than economists predicted, said the figures.
The gap between what the government takes in and what it spends was آ£10.7 billion in February, the Office for National Statistics said, as spending was higher and tax takes were lower than forecast.
The sum is the fourth-highest since records began in 1993 and آ£4.1 billion higher than anticipated by economists polled by the Reuters news agency.
The government's independent forecaster had predicted that borrowing would be آ£6.5bn for the month.
However, economists have warned the higher-than-expected borrowing last month "puts more pressure" on the Chancellor ahead of the Spring Statement on Wednesday.(END)
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