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    Britain's Chancellor George Osborne speaks during the British Chambers of Commerce annual conference in London (File)

    UK Economic Growth For 2016 Revised Down by 0.4% to 2% of GDP - Osborne

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    UK Chancellor of the Exchequer George Osborne said that the UK economic growth rate for next five years was downgraded.

    MOSCOW (Sputnik) — The UK economic growth for 2016 has been downgraded to 2 percent of the GDP, UK Chancellor of the Exchequer George Osborne said Wednesday citing the UK Office for Budget Responsibility (OBR).

    In its autumn statement in November, the OBR projected GDP growth rate for 2016 at 2.4 percent.

    The numbers have also been revised downwards for 2017 (from 2.5 percent to 2.2 percent), 2018 (from 2.4 percent to 2.1 percent), 2019 and 2020 (from 2.3 percent to 2.1 percent).

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    economic forecast, George Osborne, United Kingdom
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