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British Finance Minister Rishi Sunak stressed that “Britain is undergoing an economic emergency and will face an unprecedented drop in GDP of 11.3 percent in 2020, due to the consequences of the spread of the emerging virus ‘Corona’ , revealing that “According to official estimates, growth will rebound by 5.5 percent next year and reach 6.6 percent in 2022.
In a speech before Parliament, he noted that “the health emergency situation still exists and the economic emergency is still in its infancy. Therefore, our immediate priority is to protect lives and living standards,” and noted that “it is likely that the economic damage will continue in the long term. ” And the economy will weaken for many years. “
Sunak emphasized that “in a period of unprecedented crisis, the government must make difficult decisions,” stating, “to reduce development aid in 2021 to 0.5 percent of GDP”, compared to the usual 0.7 percent. . This aid will represent about 10 billion pounds (about 11 billion euros), compared to 15 billion pounds under normal circumstances. And he promised “to raise this aid again to 0.7% of GDP, when the budget allows it.”
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