The International Monetary Fund has downgraded its economic forecast for Britain as the country tightens its belt ahead of departure from the European Union.
In the latest update of the World Economic Outlook, the IMF has predicted that the UK’s economy would grow by one-point-seven percent this year. That’s point-three percent down from former projections in April. The financial body indicated that although the UK’s economic growth is still higher than the rates in France, Italy and Japan, the ultimate impact of Brexit on the British economy remains unclear. The world’s fifth-biggest economy saw weak growth figures in the first quarter of 20-17 and grew only point-two percent.
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