August 22, 2018 / 8:45 AM / 3 months ago

Scottish budget deficit falls to 7.9 pct of GDP in 2017/18

GLASGOW, Scotland, Aug 22 (Reuters) - Scotland’s budget deficit narrowed during the last financial year but remained much larger than that of the United Kingdom as a whole at 7.9 percent of gross domestic product, Scottish government data showed on Wednesday.

Scotland’s net fiscal deficit, including a share of North Sea oil and gas revenue, totalled 13.4 billion pounds ($17.1 billion), down from 14.5 billion pounds in the 2016/17 financial year.

As a percentage of GDP, it was down from 8.9 percent in 2016/17 and the lowest since 2011/12, but far higher than in the United Kingdom as a whole, where public sector net borrowing totalled 1.9 percent of GDP in 2017/18.

Per capita public spending in Scotland was 1,576 pounds more than the United Kingdom average. ($1 = 0.7841 pounds) (Reporting by Elisabeth O’Leary, writing by David Milliken; editing by Sarah Young)

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