UK OBR revises 2015 GDP forecast lower

FXStreet (Mumbai) – The UK Office for Budget Responsibility (OBR) revised its 2015 GDP forecast lower to 2.4% from the previous forecast of 2.5%.

The GDP forecasts for 2016 was kept unchanged at 2.3%, while the 2017 forecast was revised higher to 2.4% from 2.3%.

Key developments

“Osborne delays surplus to 2019-20 instead of 2018-19.”

“Osborne says the UK budget deficit will fall to 3.7% of GDP in FY 16.”

“Osborne says UK public debt will fall in FY 16, ends longest streak of increases since the 17th century.”

The UK Office for Budget Responsibility revised its 2015 GDP forecast lower to 2.4% from the previous forecast of 2.5%.

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