The U.K. public sector net borrowing excluding interventions declined to GBP 8.5 billion in June from GBP 11.9 billion last year, data from the Office for National Statistics showed Friday.

The ONS said PSNB has been reduced by GBP 3.9 billion of cash transfers from the Asset Purchase Facility Fund to government. If these transfers are excluded then public sector net borrowing in June 2013 was GBP 12.4 billion, data showed.

At the end of June, the public sector net debt excluding the temporary effects of financial interventions was GBP 1,202.8 billion or 74.9 percent of GDP.