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The Office for National Statistics released public sector net borrowing for the U.K. on Thursday. Public sector net borrowing excluding public sector banks declined to £74.0 billion in the fiscal year 2015/16 ending March 2016 from £91.7 billion in the previous fiscal year. It is equivalent to 3.9% of GDP.
The government forecasted £72.0 billion for the fiscal year 2015/16.
The debt-to-gross domestic product ratio rose to 83.5% in the fiscal year 2015/16 from 83.3% in the previous fiscal year.
Public sector net borrowing excluding public sector banks declined to £4.6 billion in March from £7.4 billion in March a year ago.
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