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Public sector borrowing requirement (P.S.B.R.)


The net amount by which receipts of the public sector are expected to fall short of expenditure or (Ex post) the amount by which they did fall short as set out in the national accounts. The P.S.B.R. is financed by the increase in notes and coin in circulation, increases in marketable and non-marketable debt and increases in debt to the Bank of England after allowance has been made for changes in overseas official financing, such as net drawings from the International Monetary Fund.

Reference: The Penguin Dictionary of Economics, 3rd edt.