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UK monthly public deficit climbs to £23.3bn amid record debt-servicing costs, Mohamed A. El-Erian notes
Mohamed A. El-Erian, president at Queens' College, University of Cambridge, states that the United Kingdom is facing deepening fiscal challenges and diminished policy flexibility.
He points to record debt-servicing costs of £11.7 billion in May, which are £4.1 billion higher than a year ago, contributing to a monthly public deficit of £23.3 billion.
El-Erian has previously cautioned that U.S. public debt is nearing record highs, with increasing risks around Treasury funding. He has also noted that, as of the end of 2025, gold’s share of global official reserves reached 27%, surpassing both the euro and U.S. Treasuries. These observations follow his ongoing commentary on the implications of rising sovereign debt levels.
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