UK public debt narrows in April

United Kingdom released the public finances report for April, showing the public sector net borrowing have decreased 10.8 billion pounds, beating expectations of 4.0 billion decrease. The reading was significantly better than the prior reading of 31.3 billion pounds, revised to 31.5 billion in March.

The public sector net borrowing excluding interventions also dropped to 6.3 billion pound, from the prior reading of 15.5 billion, revised to 14.7 billion, beating expectations of 8.5 billion pounds.

The net borrowing dropped to 8.0 billion pounds in April compared with the prior reading in of 16.7 billion pounds revised lower to 12.6 billion in March. Analysts called for 8.8 billion pound.