The British government got slightly above its budget deficit target for the recently ended 2019/20 financial year that is like to be dwarfed by a spike in public borrowing for softening the economic hit due to the coronavirus or COVID-19 lockdown.
Coronavirus crisis in UK
The Office for National Statistics said on Thursday that borrowing between April last year and March this year stood at 48.7 billion pounds, compared with the most recent estimate of 47.4 billion pounds by the country's budget forecasters.
The deadly virus outbreak has created major stir around the world claiming the lives of more than 170,000 people globally and infecting over 2.5 million people worldwide. The virus outbreak which probably originated from the Chinese city of Wuhan in Hubei province has been described by the WHO as a pandemic.
(With agency inputs)
