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.
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