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UK public sector borrowing for the financial year ended March came in markedly lower than a year earlier, figures from the Office for National Statistics showed on Tuesday.
However, borrowing remains at a historically high level and the full financial year figure topped forecasts set out by the Office for Budget Responsibility.
UK public sector net borrowing - excluding public sector banks - amounted to £151.8 billion, around 6.4% of gross domestic product for the year ended March.
It was the third-highest borrowing figure since records began in 1947, but less than half the £317.6 billion from the previous financial year.
It was above the OBR's most recent £127.8 billion forecast, however. The OBR is non-departmental body which sets out forecasts for UK public finances.
In March alone, net borrowing came in at £17.32 billion, halved from £26.08 billion a year earlier. The figure topped FXStreet cited consensus of £15.0 billion, however.
It was also above February's £9.85 billion net borrowing figure.
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