UK government borrows more than expected in May

The government’s borrowing amount in May in the UK exceeded expectations. The UK government, which was expected to borrow 11.5-12 billion GBP in May, ended up borrowing 14 billion GBP due to the effect of rising inflation increasing borrowing costs. The amount borrowed in the same month last year was 18 billion GBP. In the first two months of the new financial year, which started on April 1, the amount borrowed decreased by 15 percent compared to the same period last year, reaching 35.9 billion GBP. However, this figure is approximately 20 billion GBP more than the April-May period of 2019. Data released today showed that the UK government’s interest bill increased by 70 percent in May compared to the same month last year, reaching 7.6 billion GBP.