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The UK budget surplus in January reached a record size and, according to the British Office for National Statistics, amounted to 14 billion 900 million pounds. Revenues to the budget increased in annual terms by 9.8%. This was facilitated by an increase in income tax collections amid record-breaking low unemployment. In addition, VAT revenues increased due to higher consumer spending. In January, there was a decrease in budget expenditures by 3% and a fall in public debt by 17%. Following the results of 10 months of the fiscal year, which ends in March, the British budget deficit reached the minimum level of 18 billion 200 million pounds in 18 years, having decreased by 47% over the year. At the end of January, the national debt of the country has decreased to the lowest since May 2012, to 74% of GDP.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...
China's diesel exports for June fell by 50% year-on-year, a record low since September 2018 as lockdown measures around the world continued to curb fuel demand. China exported has 1.04 million tons of diesel, compared to the 1.45 million and ...
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