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UK public sector net borrowing was higher than expected in June, figures released by the Office for National Statistics showed on Tuesday.
Public sector borrowing totalled £20.68 billion in June, exceeding an FXStreet-cited consensus for £15.6 billion and up from £17.44 billion in May.
It was the second-highest June borrowing since monthly records began in 1993, after that of June 2020, the ONS noted. It was also more than the £17.1 billion forecast by the Office for Budget Responsibility in March.
Borrowing for the three months ended June 30 was £57.8 billion, up £7.5 billion from the year before and the third-highest April to June segment since monthly borrowing began, after 2020 and 2021.
Also, it reported the current budget deficit was £44.5 billion in the three months to June, which was £6.5 billion higher on-year. Monthly, the deficit was £16.3 billion in June, which was £7.1 billion more than the year before.
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