Advertisement
Singapore markets closed

  • Straits Times Index

    3,437.47
    +21.96 (+0.64%)
     

  • S&P 500

    5,537.02
    +28.01 (+0.51%)
     

  • Dow

    39,308.00
    -23.90 (-0.06%)
     

  • Nasdaq

    18,188.30
    +159.54 (+0.88%)
     

  • Bitcoin USD

    57,630.79
    -2,772.25 (-4.59%)
     

  • CMC Crypto 200

    1,209.74
    -51.44 (-4.08%)
     

  • FTSE 100

    8,233.82
    +62.70 (+0.77%)
     

  • Gold

    2,369.40
    0.00 (0.00%)
     

  • Crude Oil

    83.35
    -0.53 (-0.63%)
     

  • 10-Yr Bond

    4.3550
    -0.0810 (-1.83%)
     

  • Nikkei

    40,913.65
    +332.89 (+0.82%)
     

  • Hang Seng

    18,028.28
    +49.71 (+0.28%)
     

  • FTSE Bursa Malaysia

    1,616.31
    +0.99 (+0.06%)
     

  • Jakarta Composite Index

    7,226.14
    +29.38 (+0.41%)
     

  • PSE Index

    6,507.49
    +57.46 (+0.89%)
     

UK's Hunt outlines new budget deficit forecasts

Reuters
·1-min read

LONDON, March 6 (Reuters) - Finance minister Jeremy Hunt on Wednesday announced a lower forecast for Britain's budget deficit in the current financial year, but a slightly higher one for 2024/25, citing new projections from the Office for Budget Responsibility.

Public sector net borrowing excluding state-owned banks was on course to total 4.2% of economic output in the current 2023/24 financial year, Hunt said, compared with a previous forecast made in November of 4.5%.

For 2024/25, borrowing was projected at 3.1% compared with the OBR's November forecast of 3.0% of economic output, and 2.7% in 2025/26, unchanged from November. (Reporting by David Milliken and Kylie MacLellan Writing by Andy Bruce; Editing by Kate Holton)