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Source: Paris – France Press
The credit rating agency “Standard & Poor’s” has kept Britain’s brand unchanged, as well as its estimates for stable prospects, noting that British authorities have taken a series of measures to address the economic consequences of the Covid epidemic- 19.
The agency maintained Britain’s long-term debt rating at “AA”, the third-best rating on the “Standard & Poor’s” scale.
“We expect the British economy to contract in 2020 and tax cuts, before strengthening again as the economy recovers,” the credit rating agency said in a statement.
But he warned that this rating could be affected if the economic recovery turns out to be much weaker than expected, which would hinder the fiscal recovery.
This could happen if exports of goods and services cannot enter European markets and the pound is under pressure.
On the other hand, this brand can be improved if the basic services sectors retain, within the framework of negotiations with the European Union, access to European markets without customs duties or barriers other than tariffs.
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