UK’s public debt rises to 100 pct

- The UK's public debt rose to 2.9 trillion sterling (USD 3.86 trillion) by the end of August, making up 100 percent of the country's annual economic output, according to official statistics released Friday. The public debt, including that of the Bank of England, is still the highest level since the 1960, the UK's Office for National Statistics (ONS) said in a new report. The government?'s debt pile as a share of gross domestic product rose by 4.3 percentage on a daily basis, it said, adding that the government's borrowing in the financial year to August 2024 was 64.1 billion sterling (USD 85.3 billion), six billion sterling (USD nine billion), compared to the same period in 2023. The statistics also showed a rise of 312.3 billion sterling (USD 415 billion) in the country's tax income between April and August, a 15 billion sterling (USD 20 billion) increase compared to 2023. (end) mrn.ag Source: Kuwait News Agency