Buy
Sell
Name Symbol Market Type
New Zealand Dollar vs United States Dollar FX:NZDUSD Forex Exchange Rate
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.002375 0.37% 0.639415 0.63938 0.63945 0.639735 0.637785 0.63679 0 07:36:46

UK Budget Deficit Narrows In April

24/05/2022 4:19am

RTTF2


NZD vs US Dollar (FX:NZDUSD)
Forex Chart


From Dec 2021 to Dec 2022

Click Here for more NZD vs US Dollar Charts.

The UK budget deficit narrowed from last year in April, but the shortfall was the fourth-highest on record, the Office for National Statistics said on Tuesday.

Public sector net borrowing, excluding banks, decreased by GBP 5.6 billion to GBP 18.6 billion in April. Borrowing remained below the estimate of the Office for Budget Responsibility by GBP 0.5 billion.

Nonetheless, this was the fourth-biggest shortfall since records began in 1993 and also exceeded the economists' forecast of GBP 17.8 billion.

Data showed that central government receipts were up 16.5 percent, while expenditure dropped by 4.5 percent.

Public sector net debt excluding public sector banks totaled GBP 2,347.7 billion at the end of April, or around 95.7 percent of GDP.

In the financial year ending March, public sector borrowed GBP 144.6 billion, about GBP 16.8 billion more than the GBP 127.8 billion forecast by the OBR in the economic forecast published in March.

Data suggests that after just one month of the 2022/23 fiscal year the Chancellor is on track to undershoot the OBR's full-year borrowing forecast of GBP 99 billion, Paul Dales, an economist at Capital Economics, said.

"That said, we suspect that the effects on the public finances of higher inflation, higher interest rates and weaker GDP growth will prevent a big undershoot this year and may in fact erode some of the £27bn (1.0% of GDP) of headroom the Chancellor has against his main fiscal mandate," Dales added.

As such, the economist said the upcoming support package for households will probably be mostly funded by raising taxes elsewhere and will be targeted towards those households that need it most.

1 Year NZD vs US Dollar Chart

1 Year NZD vs US Dollar Chart

1 Month NZD vs US Dollar Chart

1 Month NZD vs US Dollar Chart
Your Recent History
FX
NZDUSD
NZD vs US ..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20221202 07:51:46