Britain has announced the largest economic decline in 300 years

At the end of the year, the country’s GDP will decrease by more than 11%. The economic consequences of such a fall will be long-lasting.

Great will experience the biggest recession in 300 years. The gross domestic product of Britain will shrink by more than 11%. This was reported on Wednesday, November 25, by the press service of the British Treasury.

“The will shrink this year by 11.3%, which is the largest decline in production for more than 300 years… The economic losses are likely to belong. This means that in 2025 the economy will be about 3% less than expected in March,” said Finance Minister Rishi Sunak.

However, he expects that with the easing of restrictions, the British economy will begin to recover and grow by 5.5% next year and by 6.6% in 2022. In subsequent years, the economy is projected to grow by 2.3%, 1.7%, and 1.8%.

Recall that at Christmas in Britain and will be released quarantine for five days.

Leave a Reply

Your email address will not be published. Required fields are marked *