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7/10/2020, 11:49 AM (Source: TeleTrader)
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UK economy could sink more than 10% in 2020 - Moody's

The British economy could slump over 10% this year due to the coronavirus-caused crisis, according to Moody's forecast unveiled on Friday, expecting the UK to be the world's hardest-hit major economy following the pandemic.

Moody's analysts saw the country's economy growing 7.1% in 2021 as they asserted that the latest £30 billion stimulus package is likely to boost UK's rebound from the crisis.

Meanwhile, the United Kingdom's public debt will "likely rise by 24 percentage points of GDP or more relative to 2019 levels," analysts claimed.

Baha Breaking News (BBN) / GA