British budget deficit reduction under pressure

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Baku, April 26 (AZERTAC). The afternoon of April 24, the Office for National Statistics data released today show that Britain`s budget deficit higher than economists expected in March, highlighting the serious challenges faced by the British Chancellor of the Exchequer Osborne. data show that the UK budget deficit in March was 15.9 billion pounds, while the UK budget deficit of 15.1 billion pounds in the same period last year. UK March net debt increased to £ 1.02 trillion, a percentage of GDP reached a record 66%, 60.5% higher than the same period last year. UK March public sector demand for cash of £ 16.5 billion, and economists expected the March budget deficit of 13 billion pounds. UK net lending (except for the support provided by the bank) in March this year to 18.2 billion pounds ($ 29.4 billion U.S. dollars) last year UK net lending of £ 18 billion. Bloomberg News survey of economists on average had expected the United Kingdom in March net lending decreased by £ 16 billion. The data released today show that British spending rose 4.2 percent in March, a tax increase of 1.4%. In addition, in March of this year over the past fiscal year, the UK budget deficit reduced from £ 136.8 billion last fiscal year to 126 billion pounds, which is consistent with the previous official forecast data; tax increase of 3.9% spending growth to 2%; sector spending fell 0.1 percent, the first decline since 1955. British Prime Minister David Cameron had once again promised to reduce the budget deficit for this fiscal year, fiscal year budget deficit total percentage of GDP reached 8.3%. Due to the implementation of austerity policies, many European countries, the government is facing greater pressure in the first round of French presidential election, incumbent President Nicolas Sarkozy in second place, the Dutch government to cut spending plans failed bankruptcy yesterday.


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