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08/04/2014
UK Economy To Grow By 2.9% In 2014
The International Monetary Fund (IMF) has said that the UK economy will be the fastest-growing in the G7 this year and predicts it will grow 2.9% in 2014.
It predicts a further growth of 2.5% in 2015.
The growth in the UK is said be stronger than initially anticipated due to easier credit conditions and an increased confidence. However, the recovery is also said to be unbalanced as business investment and exports levels remain disappointing.
The report said: "In the United Kingdom, monetary policy should stay accommodative, and recent modifications by the Bank of England to the forward-guidance framework are therefore welcome.
"Similarly, the government's efforts to raise capital spending while staying within the medium-term fiscal envelope should help bolster recovery and long-term growth."
(CVS/JP)
It predicts a further growth of 2.5% in 2015.
The growth in the UK is said be stronger than initially anticipated due to easier credit conditions and an increased confidence. However, the recovery is also said to be unbalanced as business investment and exports levels remain disappointing.
The report said: "In the United Kingdom, monetary policy should stay accommodative, and recent modifications by the Bank of England to the forward-guidance framework are therefore welcome.
"Similarly, the government's efforts to raise capital spending while staying within the medium-term fiscal envelope should help bolster recovery and long-term growth."
(CVS/JP)
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