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The growth prospects of the British economy are improving       Finance United Kingdom 

The growth prospects of the British economy are improving    

The UK finance minister says the growth prospects of the UK economy will improve.

Philip Hammond, who held a regular mid-term assessment of the British economy and the state of the budget at London’s Lower House House on Tuesday, said a new, improved projection of the Office of the Budgetary Bureau (OBR) for official government forecasts shows that the UK’s total domestic product (GDP) it is expected to increase by 1.5 per cent instead of 1.4 per cent in the previous forecast.
According to Hammond’s report, the OBR has left its estimate for 2019 and 2020, with a growth of 1.3 percent in GDP, but by 1.4 percent in 2021 and by 1.5 percent in 2022.
The finance minister said last year’s growth was 1.7 per cent, which was above the budgeted 1.5 per cent forecast.

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