The UK recorded a budget deficit of 17.7bn pounds ($23.85bn) in May, according to a report by the Office for National Statistics (ONS).
The figure increased by 0.7bn pounds compared to May last year. Economists had on average expected a deficit of £17.1bn.
Since the start of the current financial year, i.e. April-May, the budget deficit was £27.4bn. This is £1.3bn less than in the same period last year.
The ONS said in a statement that the figures for the first few months of the financial year are largely based on forecast figures and could then be revised significantly.
Budget revenue rose by £5.7bn to £91.1bn in May, while spending increased by £6.4bn to £108.8bn.
The total size of the UK government debt (excluding borrowings of state banks) at the end of May was about 96.4% of the country’s GDP. The ratio of government debt to GDP remains close to the record level since the early 1960s.