Britain recorded a record budget deficit in January

Britain reported a record budget deficit of almost £ 9 billion in January, compared with a surplus of more than £ 9 billion in January of the previous year. The British statistical office informed about it on Friday. The fall into the record deficit was caused by the new coronavirus pandemic and the associated high government spending to support the economy, while revenues fell sharply due to widespread restraint. According to the statistics, Britain's budget deficit reached £ 8.8 billion (€ 10.17 billion) in January. By comparison, in January last year, Britain recorded a surplus of 9.6 billion pounds. The January result represents the highest deficit for a given month since the start of recording the relevant data in 1993 and at the same time the first January deficit in 10 years. Since the beginning of the 2020/2021 budget year, which began in April, the budget deficit has reached £ 270.6 billion, according to the statistical office. This is again the highest deficit in the period under review since the start of monthly data recording in 1993. The country's net debt has reached £ 2.11 trillion in the first 10 months of the current fiscal year. This represents 97.9% of gross domestic product.