UK government borrowing at lowest since 2007

LONDON (AA) - The U.K.’s government borrowing (excluding public sector banks) decreased by £3.5 billion ($4.9 billion) to £42.6 billion ($59.4 billion) in the 2017-18, financial year, compared with the previous financial year.

According to the Office of National Statistics (ONS) data released on Friday, it is the lowest net borrowing since the financial year ending March 2007.

The U.K public sector net debt (excluding public sector banks) was £1.798 trillion at the end of March 2018, equivalent to 86.3 percent of gross domestic product, the ONS said.