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Europe Live Friday 24th May 2013

British public finance figures improve

27th February 2012

According to data published on 21st February by the British National Statistics Office, (ONS), the British budgetary overspending, except for "temporary effects of financial interventions" lay at £11.8 million in January 2012 (around 14 billion euros) against 9.2 billion in January 2011. Moreover according to the same figures the UK was a net lender to a total of £7.8 billion in January 2012 against 5.2 billion in January 2011. The net public debt totalled 63% of the GDP against 58.3% in January 2011. These statistics which represent an improvement in comparison with the situation a year earlier has surprised economists.

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