The UK government posted a total net borrowing deficit of GBP 0.84 billion in March 2019, compared with a GBP 0.069 billion surplus in the same month of the previous year and well below market expectations of a GBP 0.4 billion surplus. It was the smallest shortfall since February last year. Excluding state-controlled banks, the gap rose to GBP 1.7 billion from GBP 0.8 billion a year earlier. Since the start of the financial year in April, borrowing totalled GBP 24.7 billion, down by GBP 17.2 billion from the previous financial year and the lowest year-to-date net borrowing in 17 years. Debt rose by GBP 22.1 billion from a year ago to GBP 1.80 trillion at the end of March, equivalent to 83.1 percent of GDP. Government Debt in the United Kingdom averaged -3984.56 GBP Million from 1993 until 2019, reaching an all time high of 15430 GBP Million in January of 2019 and a record low of -19956 GBP Million in April of 2012.
Government Debt in the United Kingdom is expected to be -3210.00 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 -1120.00 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.