INSTANT VIEW 5-Public finances swung into surplus in July

LONDON (Reuters) - Bumper tax revenues from North Sea oil companies helped public finances swing into surplus in July, data showed on Wednesday, but the government still faces an uphill battle to meet its full-year borrowing forecasts.

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KEY FIGURES (IN BLN STG)

JULY FCAST

PSNCR -12.637 -10.0

PSNB -4.835 -4.3

ANALYSTS' COMMENTS

MATTHEW SHARRATT, BANK OF AMERICA

"The surplus is slightly bigger than expected, but the key thing is that the deteriorating trend in public borrowing is stark. Set against the Treasury's forecasts for growth next year of over 2 percent the numbers will bring a whole load of problems come the pre-Budget report in November and force them to revise up their borrowing further."