UK Debt Exceeds £2trn for First Time

Following the global economic shutdown caused by the Coronavirus pandemic, several countries were said to have been hit by the pandemic, leading to the degradation of its economy. According to the British government, its debt has exceeded £2.0 trillion for the first time following large state borrowing as the coronavirus pandemic pushed the UK economy deep into recession, according to the official data showed on Friday.

At the end of July, £2.004 trillion ($2.61 trillion, 2.2 trillion euros) was total accumulated debt, the Office for National Statistics said in a statement.

Ayooluwa Joshua