UK budget office sees debt above 106% of GDP this year

Britain's official budget forecasters raised their estimate for the size of the country's public debt pile at the end of the current financial year, after data showed earlier on Friday that it had passed 100 percent of annual economic output for the first time.

The Office for Budget Responsibility said it now expected public sector net debt to increase to 106.4 percent of gross domestic product, up from a forecast of 104.1 percent in the central scenario of projections the OBR published last month.