The budget deficit in the UK widened to GBP 2.11 billion in December 2018 from GBP 1.81 billion in the same month a year earlier and compared to market expectations of a GBP 1.05 billion gap. Excluding state-controlled banks, the deficit went up to GBP 2.98 billion from GBP 2.67 billion a year earlier, the lowest December net borrowing since 2000. Still, for the first nine months of the 2018/19 financial year, the budget deficit narrowed by 26.7 percent to GBP 35.9 trillion. Debt rose to GBP 1.81 trillion at the end of December equivalent to 84 percent of GDP, compared to GBP 1.76 billion in December 2017. Government Debt in the United Kingdom averaged -4067.58 GBP Million from 1993 until 2018, reaching an all time high of 13316 GBP Million in January of 2017 and a record low of -19956 GBP Million in April of 2012.
Government Debt in the United Kingdom is expected to be -1240.00 GBP Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Government Debt in the United Kingdom to stand at -2840.00 in 12 months time. In the long-term, the United Kingdom Public Sector Net Borrowing is projected to trend around -2440.00 GBP Million in 2020, according to our econometric models.