The British Ministry of Finance has lowered the forecast for GDP growth in the UK for 2019


British Secretary to the Treasury, Philip Hammond, during a spring appeal to parliament, reported a drop in the forecast for GDP growth in the UK in 2019 to 1.2% from a 1.6% rise expected earlier. The Ministry of Finance left the forecast for 2020 unchanged, expecting an economic growth of 1.4%. At the same time, the ministry improved the growth forecast for 2021 from 1.4% to 1.6% and for 2022 — from 1.5% to 1.6%. It is reported that the current fiscal year will be completed at the end of this month with a budget deficit of 22.5 billion pounds, which is 3 billion pounds below the planned figure. By fiscal 2023-2024, the ministry expects to reduce the deficit to 13.5 billion pounds. Hammond also told the British Parliament that the forecasts imply signing an agreement on Brexit.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong