British debt reaches 99.2% of GDP

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London, Jun 22 (EFE) .- The accumulated debt of the United Kingdom reached 2.19 trillion pounds (2.55 trillion euros) at the end of last May, 99.2% of the gross domestic product (GDP) of the country, the highest percentage since March 1962, reported Tuesday the National Office of Statistics (ONS, in English).

The United Kingdom reached that level after the Government took on debt last May with 24.3 billion pounds (28.382 million euros), the second highest indebtedness for a month of May since 1993, according to the ONS.

Last month’s figure was lower than in May last year, when the country went into debt with 47.8 billion pounds (55.83 billion euros) during the first wave of the covid pandemic.

British Finance Minister Rishi Sunak said in a short note that “as we emerge from the pandemic, we continue to support people and businesses to get back on their feet and our employment plan is working.”

The rise in debt responds to the measures adopted by the Executive to help workers in the face of the restrictions imposed in the country to contain covid-19.

Faced with the economic stoppage, the Executive applied a plan to help companies pay the salaries of their employees up to 80% of their salaries, a measure that will continue until September.

(c) EFE Agency

Article source: https://es-us.finanzas.yahoo.com/

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