Brexit's Global Effects Could Appear in 5-10 Years, Hardly Favorable for UK

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Brexit themed beermats and magazines in JD Wetherspoon's pub, Edinburgh, Scotland. - Sputnik International
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The effect for global economy over Brexit and may become tangible in five to ten years, Chinese Finance Minister Lou Jiwei said.

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BEIJING (Sputnik) — The consequences of the United Kingdom's exit from the European Union (Brexit) may significantly affect global economy, though it will be tangible within five or ten years, Chinese Finance Minister Lou Jiwei said.

"The United Kingdom's exit from the European Union has just started… it may significantly affect the global economy in future. Exit from the European Union is hardly favorable for the country, its consequences cam appear within five-ten years. However, it is difficult to determine the specific impact of Brexit at the moment, global markets need to calm down and determine this impact," Lou Jiwei said as quoted by the Sina news agency.

On Thursday, the United Kingdom held a referendum to determine whether or not the country should leave the EU. According to the final results, 51.9 percent of voters, or 17.4 million people, decided to support Brexit, while about 16.1 million opposed it.

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