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The International Monetary Fund said that the British economy would suffer a loss from Brexit without a deal for two to three years from now to the end of 2021. If British Prime Minister Theresa May fails to negotiate with the EU leaders about the Brexit delay on Wednesday, then April 12 will be the official deadline for the country’s exit from the EU and the deal will not be concluded. According to IMF estimates, such a scenario by the end of 2021 will lead to a decrease in British GDP by 3.5% relative to the size of GDP with the “soft” version of Brexit. The greatest negative effect on the external and internal demand of the UK will increase trade barriers. At the same time, the EU economy will lose only 0.5%. The IMF's forecast for GDP growth in the UK in 2019 has been lowered to 1.2% from 1.5%. If this forecast comes true, then it will be the weakest economic growth since 2009.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
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