The national debt of Britain leveled with GDP

Borrowing by the British government in April 2020 was more than ever. At the same time, retail sales in the country hit a record 18%.

The national debt of Britain leveled with GDP

On Friday, May 22, according to Reuters.

Against the backdrop of the coronavirus pandemic, April borrowing from Britain amounted to 62.1 billion pounds [75.8 billion dollars]. This is six times higher than a year ago. The borrowing rate of March was also revised – in the first month of spring, the government borrowed almost 15 billion pounds [18.2 billion dollars].

“Public debt, given the massive purchases of Bank of England bonds, jumped to almost 98% of gross domestic product,” the media say, implying a monthly GDP figure.

At the same time, retail sales in Britain in April fell by 18.1% compared with March, while a decrease of 16% was projected.

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