In October, Public Sector Net Borrowing Requirement excluding financial interventions (PSNBRx), was 8.1 billion pounds (about 13.08 billion U.S.
dollars), 0.2 billion pounds less than in October 2012.
In the first seven months of the current financial year, cumulative borrowing on a comparable basis was 5.8 billion pounds (about 9.3 billion U.S. dollars)
less than in the corresponding period of the last financial year Uomo Air Max 97 KPU TPU Nere e Rosse Scontate , and for October net debt excluding the effects of financial interventions was 75.4 percent of GDP.
The improved government finances reflect economists' expectations for growth, with the central bank the Bank of England (BOE) raising its February forecast of
0.9 percent growth this year to 1.4 percent now.
"Overall, the recovery has started to feed through into the public finances, and underlying borrowing through the fiscal year to date is some 8 percent below
the same period last year,"said Simon Wells Uomo Air Max 97 Oro Gialle Nere Scontate , economist with HSBC Global Research.
Howard Archer, chief British and Europe economist with IHS Global Insight, said that improved economic activity is lifting tax receipts while the
strengthening housing market is markedly lifting stamp duty receipts for the
British government.
"Seven months into the fiscal year, it is looking ever more certain that the Chancellor will significantly undershoot his current 201314 targets for the
public finances," said Archer.
He said that if current trends were continued Uomo Air Max 97 Ultra Nere Bianche Scontate , the underlying PSNBR would come in at about 105 billion pounds (about 169.6 billion U.S. dollars) in
201314, below the target of 120 billion pounds.
Archer added, "The hope is that the trend in the public finances will increasingly improve over the coming months as improved economic activity
increasingly feeds through to boost tax revenues and help limit benefit
payments."
David Kern, chief economist of the industry body the British Chambers of Commerce (BCC) said, "The figures show that progress has been made in reducing
the budget deficit. While improvements may be partly down to the faster rate of
economic growth Uomo Air Max 97 Ultra Tutte Nere Scontate , the pace of reduction remains modest."
Kern said that a weaker financial sector and a fall in oil and gas reserves had created a structural shortfall in public finances.
"Restoring tax revenues to their pre-recession levels will remain a struggle even after growth returns to more normal levels," he said.
Archer said, "The recent improved economic performance means that pressure on Chancellor George Osborne to relax the fiscal squeeze to help the economy has
fallen away and will likely only resurface should the economy suffer a marked
relapse over the coming months." (One pound = 1.6 U.S. dollars)
CAIRO, Sept. 12 (Xinhua) -- At least 15 people were killed Tuesday in a collision between a microbus and a truck in southern Egyptian province of Beni
Suef, a source from the Health Ministry told Xinhua.
The bricks-laden truck collided head-on with the microbus running at full tilt near Sanour tunnel on the eastern desert road of Beni Suef Uomo Air Max 97 Argento Grigie Rosse Scontate , about 120 km south of the capital Cairo, the source said on condition of anonymity.
Ambulances rushed to the scene and carried nine bodies to the nearest hospitals, he added.
Road accidents claim about 13,600 lives every year in Egypt, according to official reports.
Lack of highway monitoring systems Uomo Air Max 97 Tutte Bianche Scontate , poor road maintenance and negligence of traffic rules are believed to be the main causes of the high rate
of road accidents in Egypt.
Aftermath of powerful hurricane Irma in Florida
New freight train links E China's Rizhao, Central Asia
Photo exhibition on human rights progress in China held in Geneva
16th anniv. of Sept. 11 terror attacks marked in Washington D.C.
China, Pakistan air forces hold joint training exercises
Pic story: Chinese grape and wine expert
Farmers busy with farm work around Bailu across China
Rural children take free lunch in SW China's Guizhou
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