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UK finance minister says economy to grow 0.6% this year, 0.7% next year

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Britain's economy will rebound this year and not shrink as initially thought, but will grow far less than expected next year, finance minister Jeremy Hunt says as he presents his Autumn Statement to parliament. Gross domestic product will expand 0.6 percent in 2023, Hunt said citing the Office for Budget Responsibility fiscal watchdog, upgrading its prior forecast of minus 0.2 percent. GDP is then set to grow by 0.7 percent in 2024, which was sharply down from previous guidance for a 1.8-percent expansion. SOUNDBITE

Added on the 22/11/2023 14:27:21 - Copyright : AFPTV - First images

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